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UK service sector growth outpaces expectations

6 October 2010
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UK service sector growth outpaces expectationsGrowth recorded in the UK's service sector outstripped analysts' predictions during September this year.

This is according to the latest purchasing managers' index (PMI) for the industry, which rose from 51.3 in August - a 16-month low - to 52.8 in September.

Any number above 50 is indicative of growth and the figures boosted the pound against the dollar, after experts had predicted a drop in the index.

However, the latest PMI from Markit and CIPS indicated that growth in new orders has slowed from 51.4 to 51.3 over the month, with businesses concerned about forthcoming public spending cuts.

Chris Williamson, an economist from Markit, stated: "Unless trends in new business show an improvement soon, the lack of confidence is consistent with a downturn in business activity in the coming months."

Those concerned with operations management in the service sector may also be interested in a recent statement by the Confederation of British Industry, in which it called on the government to place economic growth at the heart of its planned spending cuts.ADNFCR-3058-ID-800102118-ADNFCR
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