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Services growth falls back in Aug
03 Sep 2015 07:07
Growth in the services sector fell in August from July's nine-year high as the pace of new business slowed after expanding at its fastest in a decade and a half in the previous month.
After surging by over 5% last year, the economy is set to be the fastest growing in Europe again this year. Data last week showed retail sales volumes rose by almost 10% year-on-year in July.
The Investec Purchasing Managers' Index of activity in services, which covers businesses from banks to hotels, fell to 62.1 from 63.4 in July.
The index has stayed above the 50-point line separating growth from contraction for over three years.

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