services sector

UK Economy Growth Halted as Services Sector Slows Down

UK Economy Growth Halted as Services Sector Slows Down

The UK economy is experiencing halted growth due to the services sector slowing down, according to a report out this week by BDO LLP. The survey shows that the service sector’s “stagnant” growth is affecting the confidence of UK businesses, with business optimism at its lowest in more than two years. BDO’s Output Index – which reflects companies’ experience of orders for the coming three months – has dropped from 101.7 in February to 101.3 in March this year. While BDO’s Optimism Index – which predicts growth six months ahead – has fallen to 99.4. BDO has reported that a lack of investment due to uncertainty of the UK’s EU membership has been a factor in the decline, with firms opting to delay spending until after the EU Brexit referendum on June 23. The outlook is even w... »