Friday, 3 July 2009

DATA SNAP: UK Service Sector Grows, But Slows In June

DATA SNAP: UK Service Sector Grows, But Slows In June

By Paul Hannon

Of DOW JONES NEWSWIRES

LONDON (Dow Jones)--The U.K's dominant services sector expanded for the second straight month in June, but at a marginally slower pace than in May.

Research group Markit Economics Friday said the purchasing managers' index for the services sector fell to 51.6 in June from 51.7 in May.

A reading above 50.0 indicates the sector is expanding, while a reading below 50.0 indicates it is contracting.

The PMI was weaker than expected, with economists surveyed by Dow Jones last week having forecast the measure would rise to 52.5.

But policy makers will take some comfort from the fact that a key part of the economy grew, having contracted between May 2008 and April 2009.

-Paul Hannon, Dow Jones Newswires; +44 20 7842 9491; paul.hannon@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=%2BrFuX7rOcZgXqFaF7hQljA%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

July 03, 2009 04:39 ET (08:39 GMT)


Copyright 2009 Dow Jones & Company, Inc.

No comments:

Post a comment