DHAKA: Growth in the key UK service sector slowed last month, according to a closely-watched survey.

The purchasing managers’ index (PMI) for the sector from Markit/CIPS fell from 53.5 in May to 52.3 in June.

This matched April’s figure, which was the lowest since February 2013.

A figure above 50 indicates the sector is expanding.

The results reflect the ‘intensified’ anxiety over Brexit in the run-up to the referendum, Markit said.

Almost 90% of the data was collected before the referendum result was known.

‘The PMI surveys indicate that the pace of UK economic growth slowed to just 0.2% in the second quarter, with a further loss of momentum in June as Brexit anxiety intensified,’ said Chris Williamson, Chief Economist at Markit.

‘A further slowing, and possible contraction, looks highly likely in coming months as a result of the uncertainty created by the EU referendum.’

The data on the service sector follows Monday’s weak report on the UK’s construction industry, reports the BBC.

BDST: 1800 HRS, JUL 05, 2016
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