LONDON, April 4 (Xinhua) -- The United Kingdom's (UK) service sector continued to grow in March but at a slower pace, according to data from S&P Global.
The UK Services PMI Business Activity Index dropped to 53.1 points last month, down from February's 53.8, according to a survey released on Thursday.
The latest data was still above the neutral 50 threshold, but marked the slowest rate of business activity expansion in the sector since November 2023.
Respondents said the UK's improving underlying economic conditions had helped to support service sector growth, although squeezed disposable household incomes and elevated interest rates again weighed on demand, according to the survey.
"The recovery in service sector output lost a little bit of momentum during March, and more so than suggested by the flash PMI results, but the overall picture remains reasonably positive," said Tim Moore, economics director at S&P Global Market Intelligence.
Moore noted that the service sector growth is helping the UK economy to "pull out of last year's shallow recession."
