UK service sector slows down in July

Source: FXstreet
© ScanPIx/Reuters
The gauge of service sector in the UK came out at 57.4 in July, pulling back from last month's 58.5, and below expectations of 58.1. However, the PMI measure stayed above 50, showing expansion in the sector for the thirty-first month. The service sector continues to prop up the UK economy, accounting for 78% of total GDP, and was the main upward driver for the 0.7% growth in economy in the second quarter.
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