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05 Aug 2015 - 05:23:21 pm

UPDATE 1-UK services slowdown signals cooler economy in second half of 2015 - Reuters

"A deterioration inside support sector growth is the newest in a

stream involving signals the economy offers slowed as we transfer into

the second 50 % of your year," stated Chris Williamson, chief

economist at Markit.

The solutions index fell in order to 57.4 in July from 58.5 in June,

undershooting a Reuters poll forecast pertaining to 58.0 however still

indicating expansion among solutions businesses.

* BoE policymakers prepare to put down economic outlook

LONDON, Aug 5 (Reuters) - Britain's economic recovery

probably slowed a touch in the start associated with the second half of this

year, according to any survey printed as Bank of England

officials are anticipated to become split in whether or perhaps not to raise interest

rates.

By Andy Bruce

Wednesday's Markit/CIPS services purchasing managers' index

showed growth among solutions firms slowed more than expected in

July and they hired the particular fewest staff since March 2014, adding to

other recent indicators of your cooling within Britain's employment boom.

* UK services growth slows in July - PMI

Simon Wells, an economist at HSBC, stated the particular decline had been

unlikely to fret your Bank's rate-setters. "The MPC is actually more

likely to be concerned in regards for you to the balance regarding output, with

manufacturing and construction weak recently," he said.

* Survey signals GDP growth around 0.6 pct q/q

Taken together together with manufacturing along with construction surveys

earlier this week, the actual PMI pointed to always be able to economic growth regarding around

0.6 % for each quarter, slightly slower than the 0.7 percent

officially reported for your 90 days in order to June.



* Work rise in solutions companies hits 16-month low

The all-sector PMI, a composite of the services,

manufacturing and construction surveys, fell for you to 56.7 in July,

its lowest since December http://financialoutrage.org.uk 2014, through 57.4 in June.

New company flowed within with its fastest charge inside three

months, after falling into a six-month low in June.

The survey comes per day just before BoE officials publish their

latest economic outlook as well as interest price decision, which

economists polled through Reuters predict is going to be split for that first

time this year.

"If underlying growth is usually to remain about or over the

pre-crisis trend, which in turn BoE Governor Mark Carney really desires to see

before

raising curiosity rates, growth in these sectors needs to be able to rise."

While the actual weaker PMI will likely not really deter hawks on the

Monetary Policy Committee coming from voting for higher rates

this week, survey compiler Markit said your signs as well as symptoms of cooling in

the economy would dissuade the actual vast majority via carrying out so.

Carney stated final month it might take sustained growth of

more when compared with 0.6 percent for each quarter to consider up virtually any remaining slack

in the actual economy, a vital aspect behind any rise in rates.

(Editing by simply Robin Pomeroy)

(Adds graphics, reaction)

Still, Britain's services sector expansion has been the

second-fastest amongst main European economies.

Wednesday's survey confirmed Britain's economic upturn is

relying heavily upon economic services companies, which usually within July

enjoyed their utmost month since 2013. Simply By contrast, business

services such as architects along with accountants suffered his or her weakest

growth throughout nearly three years.

* GRAPHIC: European PMIs r.reuters.com/keq22v

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