LONDON, Aug. 5 (Xinhua) -- British service sector activity in July bounced slightly to a nine-month high, according to a survey published Monday by IHS Markit, a London-based global information provider.
IHS Markit/CIPS statistics showed that the seasonally adjusted service Purchasing Managers' Index (PMI) stood at 51.4 in July, up from 50.2 in June, hitting the highest point in nine months.
According to the survey, the reading of 51.4 in July was recorded above the 50.0 no-change mark for the fourth consecutive month, suggesting a modest increase in service sector output.
Studies showed that the rise of business activity was mainly driven by a solid rebound in new work, with the rate of new business growth hitting a high since September 2018.
Meanwhile, the seasonally adjusted all-sector output index, which covers the services, construction and manufacturing sectors, was at 50.3 in July, up from 49.2 in June.
"An improved rate of growth in the service sector to the highest since October is welcome news after other PMI surveys showed the sharpest drop in manufacturing output for seven years and a construction sector that is mired in its deepest downturn for a decade," said Chris Williamson, chief business economist at IHS Markit.
"However, the overall picture is one of an economy that is only just managing to skirt recession, with July's performance among the worst since the height of the global financial crisis in 2009," Williamson said.
