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5 May 2016
UK services PMI hits the lowest levels since Feb 2013
The services sector business activity in the UK continues deteriorated in April, marking a weak start to the second quarter and dropping to the lowest levels since February 2013.
The Markit/CIPS manufacturing PMI index for the British economy decelerated further, scoring 52.0 in April, down from 53.7 measured in March, and below estimate of 53.5.
The weaker PMI print underscores further weakness in the US economic growth in the short-term, with the quarterly pace of growth in this sector slowing to 0.6% from 0.8% measured at the end of last year.
The Markit/CIPS manufacturing PMI index for the British economy decelerated further, scoring 52.0 in April, down from 53.7 measured in March, and below estimate of 53.5.
The weaker PMI print underscores further weakness in the US economic growth in the short-term, with the quarterly pace of growth in this sector slowing to 0.6% from 0.8% measured at the end of last year.