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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
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Industry & services

Britain's service sector grows more than expected in June

Britain's services sector grew more than expected in July, providing a small boost to the markets on an otherwise tough day.

S&P Global's services PMI came in at 52.5 for July, up from June's 52.1 and beating forecasts of 52.4.

Importantly, the figure remained ahead of the 50 mark, which is used to separate the sector between contraction and growth.

The final composite PMI, which includes the UK's manufacturing output, reached 52.8, up from last month's 52.3 and ahead of analysts' guidance of 52.7.

Although this signals the UK economy moving in the right direction, the FTSE 100 has failed to lift and remains close to 150 points lower.

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