-UK Aug CIPS Services PMI 53.7 Versus 51.0 In July – Markit/Reuters
-UK Aug CIPS Composite PMI 52.2 Versus 49.5 In July
LONDON (MNI) – UK services sector growth rebounded in August after
weak growth in July, suggesting the rebound in economic activity
expected by many economists in the third quarter could yet materialize.
The headline August CIPS services PMI spiked to 53.7 from 51.0 in
July, taking in well into expansionary territory and pushing the
composite, all sector, PMI up to 52.2 from 49.5 in July.
The August construction and manufacturing PMIs’ headline readings
were both below 50, that is in in contractionary territory, but the
service sector dominates the UK economy and its rebound was enough to
push the composite PMI sharply higher.
The services data had been scheduled for release at 0828 GMT
Wednesday, but Reuters inadvertently published the figures early.
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