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Market news

10 August 2018

The UK index of services rose 0.5% vs 0.6% expected

The growth in Quarter 2 (Apr to June) 2018 compared with Quarter 1 (Jan to Mar) 2018 was 0.5%; following growth of 0.3% between Quarter 4 (Oct to Dec) 2017 and Quarter 1 2018.

This is the largest quarterly services growth since Quarter 4 2016.

The wholesale, retail and motor trade sector made the largest contribution to the quarterly growth, contributing 0.20 percentage points.

The Index of Services was flat between May 2018 and June 2018.

Increases in the information and communication sector in June 2018 were offset by falls in the professional, scientific and technical activities, and wholesale, retail and motor trades sectors.

In the three months to June 2018, services output increased by 1.5% compared with the three months ending June 2017.

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