Economic news

UK's services sector rises above predictions

The UK's services sector, one of the most important for national economy, posted its worst consecutive performances in the final two months in six years as Brexit turmoil hits businesses and shoppers.

UK services sector 2019Photo: Pixabay

The main IHS Markit/CIPS UK services PMI increased a bit more than outlook by experts polled by Reuters, to 51.2 in December. But the rise was one of the weakest since the Brexit vote in 2016.

A narrowly viewed business survey showed companies were growing more concerned, while numbers from the Bank of England and mortgage lender Nationwide pointed at reining in households spending.

British economy seems on course for quarterly growth of just 0.1 percent in the last quarter, according to the fresh data from IHS Markit.

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