iBankCoin
Joined Nov 11, 2007
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U.K. Service Index Contracts for the First Time in 2 Years

“U.K. services growth unexpectedly slowed in November as demand fell for the first time in two years, increasing the chance the economy will shrink again this quarter.

gauge fell to 50.2, the lowest in 23 months, from 50.6 in October, Markit Economics and theChartered Institute of Purchasing and Supply said in London today. The reading is barely above the 50 line that divides contraction and expansion. A separate report showed services growth inChina slowed.”

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