Economics
Record Jump for U.K. Services Index as Brexit Shock Dissipates
- Gauge surges to 52.9 in August from 47.4, beating estimates
- Data adds to evidence of economic rebound after Brexit vote
Is Record U.K. Data Enough to Fade Brexit Blues Entirely?
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A gauge of U.K. services jumped the most on record in August, adding to evidence of an economic rebound following the shock inflicted by the decision to leave the European Union.
IHS Markit said its Purchasing Managers Index surged to 52.9 from a seven-year low of 47.4 in July, the biggest monthly gain since the survey began two decades ago. The median estimate of economists in a Bloomberg News survey was for a rise to 50, the level that divides expansion from contraction.