A strong performance by the UK’s services sector in September has allayed concerns that a rebound after the Brexit vote panic would prove temporary. The sector, which accounts for about three-quarters of the economy, beat City expectations with buoyant new order books and a rise in employment. The recovery followed a sharp drop in July linked to uncertainty surrounding the UK’s vote to leave the EU. Official figures for the sector showed services output rose 0.4% in July, improving on June’s growth of 0.3%. “The improvement suggests the economy has regained a growth rate of approximately 0.3% after recovering from the initial shock of the EU referendum in late June.

Source: The Guardian October 05, 2016 09:36 UTC