Published: Sat, January 06, 2018
Markets | By Noel Gibbs

United Kingdom service sector growth rises amid doubts

United Kingdom service sector growth rises amid doubts

The Markit/CIPS UK Construction purchasing managers' index (PMI) showed a reading of 52.2 in December, down from 53.1 in November and below economists' forecasts of 53.1.

Construction firms in the United Kingdom indicated an uneven rebound in business activity in December.

Britain's service sector picked up in December, suggesting the economy is holding up well.

Lingard and Lukaku give Man United late 2-0 win over Derby
Marcus Rashford was the guiltiest party in the first half with a poor point-blank header that he tamely nodded against the post. In the 24th minute, United earned a free-kick on the edge of the Derby box but Mata's effort was saved brilliantly by Carson.

The survey of business activity showed the 17th consecutive month of growth in the services sector, which accounts for nearly 80 per cent of annual output from the economy. A number above 50 indicates growth in the sector.

The update comes as output in the United Kingdom manufacturing industry achieved "solid growth" last month, but eased back from a near four-and-a-half-year high when separate PMI data was released on Tuesday. However, it is above the 50 no change threshold for the third straight month.

Those companies included in the report were broadly positive about the outlook for the year ahead with business sentiment rising to a three-month high.

Roy Moore Accuser's House Burned Down, And You Know What People Wondered
Members of the Etowah County Arson Task Force say the fire that destroyed Tina Johnson's home Wednesday afternoon appears to be arson.

Manufacturing activity quickened to the fastest pace in five years in December, bolstered by a sharp rise in output and new orders, according to a private sector survey.

Claus Vistesen at Pantheon Macroeconomics said: "Services activity improved across the major economies".

The latest index showed that output growth accelerated for a fifth month in succession, while new business opportunities, both domestic and foreign, rose sharply.

It's so cold in Florida iguanas are falling from trees
As Miami bundles up thanks to this week's cold snap , one thing to watch out for is falling reptiles. Apparently, the temperatures were cold enough to immobilize green iguanas common in Miami's suburbs.

The signs are that such upward momentum will continue in 2018, with IHS Markit's composite new orders index climbing to 58.0 last month - its highest since July 2007 - from 57.3. "This, in turn, drove a further rise in employment and higher input and output prices".

Like this: