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UK services PMI dropped, New work growth hits 29-month low

FXStreet (Mumbai) - The headline figure for the survey is the seasonally adjusted Markit/CIPS UK Services Business Activity Index fell to to 53.3, from August’s 55.6, indicating the weakest rate of growth since April 2013.

Key Points

The rate of expansion in new business slowed for the fifth time in six months in September. The overall pace of growth was the slowest since April 2013.

The rate of job creation was the strongest since June, but the Inflationary pressures remained relatively weak in September. Average input prices rose at a slightly faster pace than August’s seven-month low, while the service charges rose marginally.

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