"… the services PMI probably cements the case for further stimulus from the Bank of England"
- Chris Williamson, chief economist at Markit
U.K. service sector barely grew in June, compared to May. The Markit/Cips services purchasing managers' index (PMI) fell to 51.3 from 53.3 in May, said the Markit research agency on Wednesday. Reading above 50.0 indicates industry expansion.
"The services economy saw one of its worst months since the recovery began three years ago, with the June survey showing signs of growth stalling," said Chris Williamson, chief economist at Markit.
"The data suggest that the sector grew by only around 0.2% in the second quarter, though the quarterly rate of growth will have slowed close to stagnation in June, boding ill for momentum going into the third quarter."
"The services PMI probably cements the case for further stimulus from the Bank of England."
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