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Investing.com -- The services sector in Britain has seen a return to mild growth in May, bouncing back from a contraction in April which was the first in a year and a half, according to a survey on Wednesday.
The contraction was due to concerns over tariffs imposed by U.S. President Donald Trump.
The S&P Global Purchasing Managers’ Index (PMI) for Britain’s services sector indicated an increase to 50.9 in May, up from 49.0 in April.
This rise also surpassed an earlier preliminary estimate of 50.2.
The PMI is a measure of the prevailing direction of economic trends in the services sector.
A PMI reading above 50 indicates growth in the sector, while a reading below 50 suggests contraction.
The rise in May showcases a rebound in the sector, offering a positive sign for the British economy.
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