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UK services growth at 11-month low

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Staff Writer | September 5, 2017
The UK service sector growth slipped to a 11-month low in August, survey data from IHS Markit and Chartered Institute of Procurement & Supply showed Tuesday.
UK services growth
Britain   The slowest pace of growth since September 2016
The services Purchasing Managers' Index fell more-than-expected to 53.2 in August from 53.8 in July. The expected reading was 53.5. Nonetheless, a score above 50 indicates expansion.

The reading signaled the slowest pace of growth since September 2016. The rates of growth eased since July and remained notably weaker than seen on average in the first half of 2017, Markit said.

Survey respondents said subdued client demand and heightened uncertainty about the domestic economic outlook had weighed on business activity growth in August.

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