Chris Williamson, the chief business economist at IHS Markit, said: “Services growth accelerated but, after March’s low, was the second-weakest for over one and a half years. However, the likelihood of a rise has receded after a series of weak economic indicators, forcing lenders to revise their outlook. “The balance of companies expecting a rise in business activity over the year ahead reached its highest level since January. This was attributed to forthcoming product launches, new marketing plans and discounting strategies,” it said. NIESR predicted the UK’s growth rate would recover to 1.7% in 2019 and 1.8% in 2020, provided the eventual Brexit deal guaranteed a high level of access for goods and services exports to the EU.

Source: The Guardian May 03, 2018 22:52 UTC