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MNI BRIEF: UK Services See Near-Term Weakness, Better Outlook

LONDON (MNI)

The UK service sector saw a modest recovery in December although remaining in contractionary territory, data published Wednesday showed, as the brightest outlook in 6 years for 'the coming twelve months' underpinned IHS Market/CIPS Services index.

The index rose to 49.4 in December, helped by almost 60% of respondents pointing to an increase in activity over the coming year, helping push past weaker current conditions.

"Companies reporting a decline in business activity in December almost exclusively cited shrinking client demand and restrictions on trade due to the COVID-19 pandemic," the survey noted.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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