LONDON, Jan. 6 (Reuters) – Growth in the services sector in the UK slowed sharply in December to touch the lowest level since mid-2013, according to the PMI, which stresses that the country’s economic recovery has lost pace again at the end of the year.
The services PMI has suffered the sharpest drop in more than three years in December, falling to 55.8 from 58.6 in November, to touch the lowest level since May 2013.
The slowdown was steeper than expected by economists in a Reuters poll, which estimated a reading of 58.5. In any case, the index remains well above the 50 threshold that separates growth from contraction.
Markit noted that the SMEs stressed that the UK economy grew by 0.5% in the last three months of 2014, slowing from 0.7% in the previous quarter.
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