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Services sector witnesses August dip in activity

6 September 2011
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Services sector witnesses August dip in activityActivity within the services sector declined during August 2011, however it continued to record growth, operations management professionals are advised.

According to the latest Purchasing Managers' Index (PMI) for the industry, the measure fell to its slowest rate of expansion during the month, dipping by 4.3 points to 51.1, just above the 50 mark for increases.

The report from Markit and the CIPS showed a slowdown in new business being awarded to companies, combined with global economic uncertainty, which affected overall confidence, pushing it down to a 12-month low.

Service providers have become more cautious and employment fell in August, while there were indications that the rioting and public disorder taking place in a number of UK cities during the month may also have affected the market.

"Allied with soft manufacturing data and a slowdown in construction growth, the overall picture provided by the latest PMI surveys is one of a stuttering UK private sector," commented Markit senior economist Paul Smith.

Across the Eurozone of the European Union, Markit reported that services confidence plummeted to a 28-month low, while the PMI for August 2011 stood at 51.5, as new business figures fell in all nations except France.ADNFCR-3058-ID-800720417-ADNFCR
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