Brexit uncertainty blamed for UK slowdown at start of 2018

LONDON — A closely monitored assessment of the U.K.'s services sector, by far the main engine of the wider economy, is showing that Brexit uncertainty is starting to bite once again.

Financial information company IHS Markit and the Chartered Institute of Procurement & Supply said their monthly purchasing managers' index — which surveys manufacturing, construction and services — fell to 53.2 points in January. That's down from 54.7 in December and is the lowest since August 2016.

Despite the retreat, the index is still pointing to growth, as anything above 50 indicates expansion.

Brexit uncertainty was blamed for the decline, particularly in the services sector.

Britain is due to leave the EU in March 2019 but there's concern over what that will entail for the U.K. economy.

You may also interested in

Officials: Zika won't hurt South Florida tourism in long run

Aug 20, 2016

The discovery of Zika-carrying mosquitoes in South Florida certainly isn't ideal for tourism, but local officials and business leaders are confident the long-term impact on the tourism industry will be minor

Republicans to query firms that ran Clinton's private server

Aug 23, 2016

Republicans are stepping up attacks on former Secretary of State Hillary Clinton's use of private email, alleging that foreign donors to the Democratic presidential nominee's family charity got preferential treatment from her department

Beer mega merger: what court ruling means for troubled deal

Aug 23, 2016

A British court has recommended that two classes of shareholders be created and vote separately on AB InBev's 79 billion pound ($104 billion) takeover of SABMiller

People also read these

Beer mega merger: what court ruling means for troubled deal

Aug 23, 2016

A British court has recommended that two classes of shareholders be created and vote separately on AB InBev's 79 billion pound ($104 billion) takeover of SABMiller

Tesla lays claim to world's fastest production car

Aug 23, 2016

Tesla Motors says new version of the Model S electric car is now the quickest production car in the world from zero to 60 miles per hour

Mondelez says it ended talks to buy Hershey

Aug 29, 2016

Oreo maker Mondelez says it's no longer seeking to buy Hershey

Emporium Post fulfils the need to know all things about consumers and how businesses can take this opportunity to reach their own customers.

Contact us: sales@emporiumpost.com

Join our mailing list now!