U.K. Economy May Be Heading for a Slowdown as Services Weaken
- Markit surveys signal slowest economic growth in a year
- Pound drops after PMI declines more than economists forecast
A waiter carries pizzas to customers in a restaurant in Brixton Village, in London, U.K., on Wednesday, Aug. 14, 2013. U.K. services growth accelerated more than economists forecast last month to the fastest pace in more than six years, adding to evidence Britain's economic recovery is gathering momentum.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
The U.K. may be heading for its weakest growth in a year, possibly heralding the start of a Brexit-induced slowdown.
IHS Markit’s gauges for manufacturing and the dominant services sector fell in February, with both readings coming in below economists’ median forecasts. While the construction index rose, that wasn’t enough to stop the composite Purchasing Managers Index falling to a six-month low of 53.8 from 55.5.