UK services sector’s unexpected surge boosts economy
The economy regained some of its former vibrancy in May after a bigger than expected surge in services activity showed that all major sectors are now growing for the first time in a year, writes The Guardian.
A CIPS/Markit survey of the services sector has shown it to have expanded more strongly than expected.
Markit said an increase in new business was behind much of the rise in its index of services activity to 54.9, up from April’s 52.9. The index signalled a rate of growth that was the sharpest since March 2012, it said.