–UK Jun CIPS Services PMI 53.9 Vs 53.8 In May – Markit/Reuters
–Markit Cites Rebound From Holiday-Stricken May Readings
LONDON (MNI) – The June purchasing managers’ services survey bucked
the trend, showing a modest rise from May after the declines seen in the
manufacturing and construction PMIs.
The CIPS June services PMI, compiled by Markit, came in at 53.9
from 53.8 in May, the sixth consecutive reading above the 50
contraction/expansion level. Markit said the data were “consistent with
solid expansion of the UK service sector.”
The report said service sector activity was higher due to increased
new business volumes, with respondents reporting “improved market
activity and the re-emergence of previously delayed projects.”
The raft of Bank Holidays in late April and on into early May
appeared to depress activity in the May CIPS surveys, and Markit found
evidence of a rebound in activity in June.
“A number of respondents commented on a pick-up in demand from a
low base following the extended bank holidays in the previous survey
period,” Markit said.
Inflation pressures eased with the prices charged index dropping to
51.8 in June from May’s 53.2. in the previous survey period.
–London newsroom 0044 207 862 7491; email: drobinson@marketnews.com
[TOPICS: M$B$$$,M$BDS$,MT$$$$,MABDS$]
