Services sector UK services sector growth falls to 16-month low Demand weakens for services such as restaurants and hotels amid ongoing Brexit uncertainty A waiter prepares a table for the lunch service at Beach Blanket Babylon restaurant in Shoreditch, London. Photograph: Bloomberg via Getty ImagesThe UK services sector grew at its slowest pace in January since the aftermath of the EU referendum as the economy got off to a sluggish start in 2018. UK service sector growth UK service sector growthChris Williamson, the chief business economist at IHS Markit, which compiles the survey, said the three PMI surveys were consistent with the economy growing at 0.3% in the first three months of 2018 – down from 0.5% in the final quarter of 2017. “The pace of UK economic growth slowed sharply at the start of the year as January saw a triple whammy of weaker PMI surveys,” he said. “Service sector expansion slid to a 16-month low, reflecting a marked waning in growth of demand for business and consumer-facing services such as hotels and restaurants.

Source: The Guardian February 05, 2018 11:24 UTC