-UK Oct CIPS Services PMI 50.6 Versus 52.2 In Sep – Markit/Reuters
LONDON (MNI) – UK services sector growth slowed markedly in
October, with the sector barely expanding at the start of the fourth
quarter.
The headline October CIPS services PMI plunged to 50.6 from 52.2 in
September, the lowest outturn since December 2010 and only just above
the 50 breakeven level. Following a 47.5 outturn for manufacturing in
October, these data raise the risk of the UK economy returning to
negative growth in Q4 after the 1% surge in quarterly growth seen in Q3.
The composite PMI for October dropped below the 50 level, coming in
at 49.7, down from 51.0 in September.
Business expectations fell to 65.3 from 67.0 in September, the
lowest outturn since June.
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[TOPICS: M$BDS$,MABDS$]
