Britain's dominant services sector returned to growth last month as new orders picked up, according to a survey by S&P Global that showed expectations for activity in the next 12 months were the highest since before the start of the Iran war in February.
The S&P Global UK Services Purchasing Managers' Index (PMI), published on Wednesday, rose to 52.1 in July from 48.8 in June, its first growth since April and above an earlier provisional or flash reading of 51.8.
The upward revision also lifted the composite PMI, which includes the smaller manufacturing industry, to 52.2 from 49.3, taking it above the 50 mark which divides growth from contraction for the first time since April.
