Service Sector is growing in UK?

UK service sector is growing

This is really nice. According to the recent survey by PMI the service sector is maintaining its growth in the first month of the New year. The service sector is the dominant sector in UK  making almost three-fourths contribution and this augurs well for the economy. In spite of skepticism about the impending fall down due to the chinese economy down turn, things look different.The data and surveys indicate a healthy future for UK. However the June EU vote will decide where the economy will go.

The CIPS index suggested a positive change of 60 points which literally means that the service sector is growing, albeit slowly. The surveys by all agencies convey the same thing the growth is positive, but the question of sustenance actually remains unanswered. The biggest challenge is not far away. This will be the June EU referendum when the whole UK votes to remain with EU or not. This will be huge decision as it means working alone for the UK. But the signs of the British Pound gaining on the Euro and Dollar indicate that the currency is going strong.My vote for the EU will surely go for UK being away from EU as it will help UK stay away from spending on not so well-managed economies of some European countries. So my fingers are crossed, but hoping that UK maintains its positive growth. Amen!

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