All the day’s economic and financial news, including healthchecks on the world’s service sectors
- UK service sector can’t find enough workers
- But growth still picked up in August
- Introduction: Chinese service sector firms slowed last month
- Markets in the red
- Full story: Thinktank demands UK economic overhaul
UK firms are also suffering from uncertainty over Britain’s exit from the EU.
Business confidence about future prospects hit the lowest level since March, today’s PMI report shows.
“Business expectations for the year ahead meanwhile sank markedly lower, down across all three sectors to one of the lowest levels seen since the EU referendum, largely reflecting increased anxiety over Brexit negotiations.
“Given the increasingly unbalanced nature of growth and the darkening business mood, risks to the immediate outlook seem tilted to the downside.”
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Good news for UK workers — the staff shortage is forcing some services firms to pay them more.
Difficulties recruiting suitably skilled staff contributed to higher salary payments in August.