The Markit/CIPS UK Services PMI for October has indicated that the UK services sector has bounced back after disappointing performance in September.
The Markit/CIPS services business activity rose to 54.9 for October, reaching above the consensus of 54.5 and well above the 50 point mark, indicating clear signs of expansion. Nevertheless, Markit did point out that this was still the second-weakest figure since May 2013, with September’s figures representing a 29-month low.
Kerry Hallard, CEO of the National Outsourcing Association, recently wrote in Business Reporter that David Cameron and the UK government’s lack of support is holding back the UK outsourcing industry – the same goes for the wider services sector. Increased backing from Whitehall could play a vital role in helping the sector get out of this slump once and for all.
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