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UK service sector activity reaches eight month high despite Eurozone recession

7 May 2013 12:00 AM | Anonymous

The UK’s service sector has shown positive signs of recovery despite the continued impact of the Eurozone crisis.

The UK’s services sector saw a rise of 0.5 in the Markit CIPS UK services PMI, from a high of 52.4 in March to 52.9 in April, with a score above 50 indicating growth.

The service growth was put down to increased new business leading to business expansion

The UK service sector’s growth sets it apart from the poor performance of the UK's manufacturing and construction industries.

The success of the sectors performance in the UK contrasts with recent reports predicting a continued gloomy future for Germany’s service sector, as April showed a continuing fall in output with a PMI of 46.9 in April, leading to expectations that the country will fail to expand over the second quarter.

PMI reports show German industry contraction

UK government cuts see borrowing drop

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