Home Business News Services sector highest since September 2018

Services sector highest since September 2018

by LLB Editor
5th Feb 20 10:33 am

The UK’s services sector enjoyed the strongest influx of new orders since mid-2018, according to the latest IHS Markit/CIPS UK Services PMI.

It climbed to 53.9 in January, up from 50.0 in December, and was the strongest reading since September 2018.

The sector makes up about 80% of the economy and covers everything from restaurants to banking.

“January’s PMI surveys give a clear signal that the UK economy has picked up since the general election, as a diminishing headwind from political uncertainty translated into rising business and consumer spending,” IHS Markit chief business economist Chris Williamson said.

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