UK service sector growth slows further
BBC
Growth in the UK service sector slowed further in September to its lowest rate in nearly two and a half years, a survey has indicated, reports BBC.
The latest Markit/CIPS service sector purchasing managers index (PMI) fell to 53.3 last month from 55.6 in August.
Although above 50, indicating growth, it was the lowest figure since April 2013 as global uncertainty and weak UK manufacturing weighed on businesses.
Service sector growth in the third quarter slowed to a two-year low.
Markit said that its survey data indicated that UK GDP growth slowed to 0.5 per cent in the third quarter of the year, and is entering the fourth quarter at a pace of 0.3 per cent.
Financial jitters
Chris Williamson, chief economist at Markit, said: Weakness is spreading from the struggling manufacturing sector, hitting transport and other industrial-related services in particular.
Wider business service sector confidence has meanwhile also been knocked by global economic worries and financial market jitters.
