Tesla’s UK sales fall almost 60% in July as BYD surges; Neil Woodford fined and banned over fund collapse – as it happened
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Britain's service sector companies were hit by a drop in orders last month, as demand at home and abroad remained sluggish.
Service sector growth slowed last month amid a decline in new work, according to the latest survey of purchasing managers from data firm S&P Global.
UK service providers recorded a third consecutive monthly rise in business activity, but they were unable to maintain the growth rate achieved in June.
Moreover, new business intakes swung back into contraction during July, with the downturn in order books the fastest for just over two-and-a-half years. Risk aversion and low confidence among clients were the main reasons provided for sluggish sales pipelines, alongside an unfavourable global economic backdrop.
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