UK Services PMI Rises to 55.2 in November
December 05 2016 - 5:31AM
Dow Jones News
By Wiktor Szary
LONDON--The U.K.'s services sector continued to expand strongly
in November, a survey showed Monday, defying analysts' predictions
for a slight slowdown.
The purchasing managers index for the services sector read 55.2,
financial information company IHS Markit Ltd. said. This was above
the 54.0 reading seen in a Wall Street Journal poll and higher than
October's 54.5. Readings above 50 signify growth.
November's figure was the highest since January and marked the
fourth consecutive month of growth, IHS Markit said. Healthy growth
in services is key to the U.K.'s economic well-being, as the
industry accounts for 80% of its annual economic output.
"The further upturn in the vast services sector shows that the
pace of U.K. economic growth remains resiliently robust in the
fourth quarter, despite ongoing uncertainty caused by Brexit," said
Chris Williamson, chief business economist at IHS Markit.
-Write to Wiktor Szary at Wiktor.Szary@wsj.com
(END) Dow Jones Newswires
December 05, 2016 05:16 ET (10:16 GMT)
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