U.K. service sector growth slows in July: PMI
FRANKFURT (MarketWatch) -- Britain's service sector grew at its slowest pace in 19 months in July, according to the Markit/CIPS purchasing managers' index released Friday. The index fell to 51.0 from 51.3 in June. A reading of more than 50 indicates growth in activity. "While we can point to poor weather in early July and disruption caused by the Olympics for the subdued performance, these temporary factors don't tell the full story," said David Noble, chief executive at the Chartered Institute of Purchasing & Supply. Noble said that while temporary influences may change, "the broader economic environment remains downcast."