The UK services sector bounced back stronger than expected in June, boosted by spend on leisure and travel.
The S&P purchasing managers’ index for services, which makes up 80% of the UK economy, rose to 54.3 last month, up from 53.4 in May, The Times has reported.
The figure is better than economists’ forecasts, with any number over 50 indicating growth in the sector, which expanded for the 16th consecutive month.
“Comments from survey respondents indicated that inflation worries, and the uncertain impact of higher interest rates on customer demand, have replaced Covid-19 restrictions as the key factor affecting business confidence across the service economy,” said Tim Moore at S&P Global Market Intelligence.
