Details from the April 2016 UK Markit/CIPS services PMI data report 5 May 2016
Prior 53.7
New orders 53.6 vs 52.9 prior
Composite 51.9 vs 53.2 exp. Prior 53.6
New orders 53.1 vs 52.8 prior
If there was a saving grace it would be the rise in orders. Employment in services also maintained growth but at the slowest level in over two and a half years.
No need to tell you what the main reason given for the drop is.
Said Chris Williamson at Markit;
Surprisingly the pound has taken the news on the chin and actually rose a few pips. Obviously given the last two PMI's, a poor number was expected.
UK services PMI