UK Service Sector Growth Moderates In November

05 December, 2017, 23:56 | Author: Natasha Holloway
  • Services sector activity shrinks in November as GST weakens demand

Growth in Britain's powerhouse services sector was pegged back last month as firms hiked prices at the fastest pace for almost a decade in the face of soaring costs.

Brazilian services activity in November shrank the most in nine months, a private survey showed on Tuesday, highlighting the nation's uneven recovery from the deepest recession in a century. Even so, November's reading was still significantly weaker than the historical average of 54.6. However, the figure was still well above the key level of 50: any figure below that suggests a contraction in the sector.

Improving conditions for manufacturers failed to keep Markit's composite PMI from declining to 48.9 in November from 49.5 in the prior month.

The services Purchasing Managers Index came in at 56.2, in line with flash estimate, versus 55.0 in October.

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Those totals give him 4,340 yards and 41 touchdowns, both second-most in the nation, with just five interceptions on the year. Milton is second nationally in passing efficiency and is the spitfire-engine of the country's highest-scoring offense.

"A sufficient degree of optimism in pockets of the economy, notably financial services, tourism, manufacturing and house building, is helping the economy as a whole to sustain steady growth", he said.

Business activity in November grew at a slower rate than last month and business confidence fell while new orders and employment both increased.

On the price front, input price inflation remained the strongest since the first half of 2011, linked to higher costs for energy, food, fuel, imported items and staff salaries.

Also known as the tertiary sector, it accounted for 51.6% of the country's economic output in 2016, up from 50.2% in 2015, and contributed to almost 60% of growth in the gross domestic product, according to the National Bureau of Statistics.