Russia's Services Growth Strongest In 10 Months

Russia's Services Growth Strongest In 10 Months

United Kingdom services growth slowed in November from the fastest pace in six months as price pressures intensified.

Its final Purchasing Managers' Index (PMI) for services fell to 54.3 from 54.7 in October, remaining well above the 50 mark that separates growth from contraction.

Having received less votes than expected in September's Federal elections, Merkel's Christian Democrat party was locked in challenging talks until their collapse on the weekend of the 19 November.

IHS Markit's composite PMI index, which includes the services and manufacturing data, rose to 60.3 from 57.4 in October, topping a preliminary reading of 60.1.

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Growth in the UK's dominant sector missed expectations in November, a closely-watched index has shown.


The slowdown in service sector growth was offset by the robust performance of manufacturing, where the expansion reached its second-fastest level in more than two decades in November.

The report showed although optimism in the sector increased, growth in business activity fell off its six-month high, while increases in volumes of new work eased.

Greater operational requirements contributed to quicker job creation in the services sector, with the employment subindex rising to the highest level since August.

On the prices front, input cost inflation quickened to the fastest since October 2013 and accordingly service providers increased their average selling prices in November.

Also known as the tertiary sector, it accounted for 51.6% of the country's economic output in 2016, up from 50.2% in 2015, and contributed to almost 60% of growth in the gross domestic product, according to the National Bureau of Statistics.

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