All the updated news related to service sector

All the news related to service sector updated in real time

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Service sector breaks from 18 months of growth, survey suggests

The UK’s service sector has interrupted 18 months of consecutive growth to stagnate for the first time since lockdowns as customers across the country tightened their belts. Under-pressure household budgets could not stretch as far and as often to ...

05 Oct 2022 at 11:48

Service sector at worst point since Alpha variant lockdown, survey suggests

The UK’s service sector has seen its worst month since the Alpha variant of Covid-19 forced most of the country into lockdown 17 months ago. A new survey has estimated that growth in the sector is at the lowest it has been since February 2021, as ...

03 Aug 2022 at 11:32

Surging inflation leads to sharp slowdown in UK service sector

The UK service sector suffered its worst performance for more than a year last month as rocketing inflation dragged on consumer demand. The closely-watched IHS Markit/CIPS UK services PMI survey scored 53.4 in May, tumbling from a 58.9 reading ...

07 Jun 2022 at 11:38

City

Economists warn of stagflation despite strong growth for businesses in March

Economists have warned of dreaded stagflation in the months to come even as new data suggested that British businesses seem to be growing strongly in March. According to an influential survey, the economy has scored 59.7 so far this month, a ...

24 Mar 2022 at 11:55

City

Economic growth hits highest rate since June, survey suggests

British businesses, especially those in the service industry, are rebounding from the impacts of the Omicron wave of coronavirus and leaving behind the sluggish growth seen in January, new data suggests. According to an influential survey, ...

21 Feb 2022 at 11:25

Service sector bounces back in January as Omicron curbs ease

The recovery of the UK service sector regained momentum last month as Omicron coronavirus restrictions and case numbers eased back, according to new figures. The closely-watched IHS Markit/CIPS UK Services PMI survey scored 54.1 in ...

03 Feb 2022 at 11:55

Hairdresser and restaurant cancellations surge after rise in Covid-19 cases

Firms such as hairdressers and restaurants saw cancellations soar last month as potential customers stayed at home amid the accelerating spread of Covid-19. New figures from the Office for National Statistics (ONS) also ...

06 Jan 2022 at 15:25

New PM faces mounting recession risk after activity contracts in August – report

Britain’s new prime minister is facing a “heightened risk of recession” following new figures signalling the private sector contracted in August after activity slumped in the services sector. The widely-followed S&P ...

05 Sept 2022 at 12:26

City

Service sector recovers in December but stops short of growth

The UK’s services sector continued to struggle in December, but almost managed to get back into neutral territory, according to an influential survey. The sector saw its best performance since September, and ...

05 Jan 2023 at 10:48

City

Service sector growth slows as business confidence takes a hit

Confidence among bosses in the UK services sector has sunk to its lowest level in 18 months as higher prices slowed a recovery in the industry, according to new data. The fall in confidence was due to ...

05 May 2022 at 11:25

Private sector growth slows in March as manufacturers drag

The UK’s private sector appeared to grow for a second month running after it broke a half-year losing streak, a closely-watched survey has found. However, growth slowed considerably in March, pulled ...

24 Mar 2023 at 10:17

UK’s services sector hit by slowdown, but continues to grow

The UK’s service sector is on a three-month growth spree, however new data showed a slowdown between February and March despite record export growth. The S&P Global/CIPS UK services PMI survey ...

05 Apr 2023 at 10:16

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