Service activity in the UK declined in June

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Research company IHS Markit reported a decrease in the index of business activity in the UK services sector in June to 50.2 points from the May value of 51 points. Over the past three months, the June value of the index was the lowest. Economists had not expected changes in its May level. In IHS Markit pointed out that the index slightly exceeded the critical level of 50 points, which indicates that business activity is approaching stagnation. The results of the study showed that demand from customers declined last month, while jobs continued to decline. The growth in the number of staff of British service providers was the fastest since August 2017. The indicator, which determines the state of production, decreased in all sectors from 50.7 points to 49.2 points.

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