The Markit/CIPS purchasing managers’ index (PMI) released today indicated that the service sector in the United Kingdom grew at its slowest pace in 19 months in July. This casts fresh doubt over whether the U.K. economy can rebound from a slump in output in the first half of the year.
The index fell to 51.0 from 51.3 in June. That is its lowest level since December 2010 and only marginally above the 50-mark that separates growth from contraction.
“Although anecdotal evidence suggests that a number of temporary factors remain in play — poor weather in the first half of the month and pre-Olympics disruption were reported in some quarters — companies continued to indicate that underlying demand remains fragile,” said Markit economist Paul Smith.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
