Chris Williamson, Chief Economist for Markit
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Markit: Service sector growth 'very weak'

The latest service sector survey shows activity in the service sector at an eight-month high - but a record jump in inflation.

According to the Markit/CIPS Purchasing Managers' Index (PMI) services bounced back after shrinking for the first time in 20 months in December.

The survey also showed a record jump in inflation.

Markit said that some of the bounce back in the service sector was due to the return of business displaced by December's snow.

Its chief economist, Chris Williamson, said the reading did not necessarily mean robust growth was established.

  • 03 Feb 2011