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| UK services growth at six-year high, PMI survey suggests | |
| (35 minutes later) | |
| The UK's services sector has expanded at its fastest pace since December 2006, a survey has indicated. | The UK's services sector has expanded at its fastest pace since December 2006, a survey has indicated. |
| The Markit/CIPS Services Purchasing Managers' Index (PMI) rose to 60.2 in July from 56.9 the month before, a stronger showing than economists had expected. | The Markit/CIPS Services Purchasing Managers' Index (PMI) rose to 60.2 in July from 56.9 the month before, a stronger showing than economists had expected. |
| Any reading above 50 indicates growth. | Any reading above 50 indicates growth. |
| The numbers complete a trio of positive PMI figures for July, after strong showings in both the construction and manufacturing sectors last week. | The numbers complete a trio of positive PMI figures for July, after strong showings in both the construction and manufacturing sectors last week. |
| The latest services figure contrasts with data from the eurozone services sector, which showed a contraction at 49.8. | The latest services figure contrasts with data from the eurozone services sector, which showed a contraction at 49.8. |
| PMI surveys are based on data from various private-sector firms, which supply information on factors such as output, new orders, stock levels, employment and prices. | PMI surveys are based on data from various private-sector firms, which supply information on factors such as output, new orders, stock levels, employment and prices. |