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7/5, 10:31 AM (Source: TeleTrader)
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UK's services PMI up to 54.3 in June

The United Kingdom's Services Purchasing Managers Index (PMI) Business Activity Index stood at 54.3 in June, S&P Global and the Chartered Institute of Purchasing & Supply (CIPS) revealed in their report published on Tuesday. The reading marks a slight increase from last month's 53.4, as it stayed over the neutral 50 for 16 consecutive months.

The seasonally adjusted Composite Output Index came in at 53.7 in June, rising only a modest 0.6 points from the month prior.

"The service sector remained in expansion mode during June, but persistently high inflation has started to dent discretionary spending and negatively influence demand projections across the board," Economics Director at S&P Global Tim Moore stated.

Baha Breaking News (BBN) / AY