Service industries: Data for the sector that incorporates the retail sector, the financial sector, the public sector, business administration and cultural activities.Jump to full report >>
The service industries include the retail sector, the financial sector, the public sector, business administration and cultural activities.
In 2016, the service industries accounted for 80% of total UK economic output (Gross Value Added) and accounted for 84% of workforce jobs in December 2016.
Output grew by 0.2% in February 2017 compared to January.
Compared with a year before, it has increased by 2.4%.
The Markit/CIPS UK Services PMI is an important indicator of output and confidence in the sector.
In March 2017 the index was 55.0, a marked rebound up from the five-month low of 53.3 in February. The index has been above the 50.0 no-change value for eight consecutive months.
July’s substantial fall (to 47.4) after the EU referendum has proved to be temporary with the levels for the end of the year similar to those seen shortly before the EU referendum. Stronger activity growth was linked to supportive UK economic conditions and greater client demand.