Growth in the UK’s services sector, the key to the UK’s economic growth, fell to its weakest in more than three years in April.

According to the latest survey by Markit, the Business Activity Index fell sharply to 52.3 from 53.7, the lowest since February 2013. Any figure above 50 shows growth.

Chris Williamson, chief economist at Markit, commented:

“The slowdown in the service sector follows similar weakness in manufacturing and construction to make a triple whammy of disappointing news on the health of the economy at the start of the second quarter. The PMI surveys are collectively indicating a near stalling of economic growth.”

05/05/2016