UK services activity slows to lowest level since February | Finance

UK services activity slows to lowest level since February |  Finance

the Index of two purchasing managers (Small and medium-sized companies, in English acronym) from the service sector Act United kingdom It fell to 53.6 in December, well below November’s final reading of 58.5 and reached its lowest level since February. However, the result was higher than the expectations of economists consulted by the Wall Street Journal (WSJ), and fell to 52.9.

According to IHS Markit, Which collects data, despite the decline in the services sector, remained optimistic at the end of last year, even with the resurgence of cases of coronavirus in the UK. However, British export sales were hit hard by the new restrictions adopted due to the rapid spread of the omicron variant.

“December data revealed a significant loss of momentum for the UK economy as many customer-facing businesses saw a drop in demand due to an increase in COVID-19 cases.” Director of Economics at IHS Markit, Tim Moore.

However, it indicates that the level of optimism among entrepreneurs in the sector has remained stable, indicating that most companies expect only a temporary effect of omicron on activity.

The service sector remained bullish at the end of last year, despite a resurgence of coronavirus cases in the UK – Photo: AP Photo/Matt Dunham, Archive

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