"The U.K. economy remains relatively fragile"
- Paul Smith, senior economist at Markit
U.K. service sector sustained pace of growth in May, compared to April. The Markit/Cips services purchasing managers' index (PMI) remained unchanged at 53.3, said the Markit research agency on Thursday. Reading above 50.0 indicates industry expansion.
The index "has settled in a range that is a step or two down from what we used to see prior to the financial crisis, providing signs that the long-term growth rate may be shifting lower," Paul Smith, senior economist at Markit, said in the statement.
"Exceptional circumstances prevail, with the euro- zone debt crisis continuing to undermine service sector confidence. The U.K. economy remains relatively fragile."
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