World Economy

UK Services Growth Slows

UK Services Growth SlowsUK Services Growth Slows

UK services growth slowed to a 17-month low in October after fears over the strength of the economy hit confidence. The purchasing managers’ index from Markit/CIPS fell by more than expected to 56.2 from 58.7 in September, BBC said. A figure above 50 still indicates expansion, but Markit chief economist Chris Williamson said the slowdown eased pressure to raise interest rates.