StockMarketWire.com - The UK services purchasing managers' index rose to 62.9 in May, up from 61.8 in April, according to a 'final' reading by IHS Markit.

That marked the steepest rate of expansion since this series began in January 1998, and was slightly higher than the initial 'flash' reading for May of 61.8.

'Strong inflationary pressures did little to dampen business expectations for the year ahead, with confidence drifting down only slightly since April,' according to the IHS Markit / CIPS UK Services PMI report published Thursday.



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