U.K. Services Slow as Economy Shows Signs of Losing Momentum
- Sector expands the least in four months in June, Markit says
- Confidence falls due to uncertainty surrounding Brexit
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Britain’s dominant services sector expanded the least in four months in June, adding to evidence that the economy is weakening as Brexit negotiations start in earnest.
IHS Markit’s Purchasing Managers Index fell to 53.4 from 53.8 in May, IHS Markit said in London on Wednesday. Economists in a Bloomberg News survey had predicted a reading of 53.5, above the 50 level that divides expansion from contraction.