The UK’s services sector, which includes accounting firms, had the biggest increase in activity for five months in August, new data shows.
Companies in the UK’s services sector – which also includes hauliers, IT and restaurants and accounts for three-quarters of the UK economy – reported increased business and optimism in August, the monthly Purchasing Managers’ Index (PMI) found.
The services PMI, on which a reading above 50 implies expansion, rose from 51 in July to 53.7 in August. The surprising strength of services countered declines in both manufacturing and construction in August, delivering a welcome boost to confidence
Businesses surveyed said the higher activity was due to a combination of new contracts marketing and, in some instan...
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.