UK PMI continues to grow
Activity among the UK's businesses continued to grow last month, according to the latest industry report, albeit at a slightly slower pace than in previous months.
August's UK Services Purchasing Managers Index, compiled by Markit and the Chartered Institute of Purchasing & Supply, shows that UK business activity was at 51.1 last month, remaining above the no-change mark of 50.0.
Despite the figure being lower than the number recorded in July, much of it can be attributed to the unrest in several cities caused by rioters and it is expected to stabilise this month.
Commenting on the figures, David Noble, chief executive officer at the Chartered Institute of Purchasing & Supply, said that lower input prices and a further easing of inflation would be "extremely welcome" in the weeks ahead.
"With a number of businesses, particularly those in the south-east, hopeful about the impact of the 2012 Olympics, there are perhaps better times to look forward to," he added.
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Posted by Wayne Bly
Filed: 05-09-2011
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