UK Markit services PMI drops sharply in June, 52.3 vs 52.8 exp

The services sector activity in the UK economy showed a sharp deterioration in June, snapping May’s rebound in wake of the looming Brexit-related uncertainty, a fresh report from Markit Economics showed on Tuesday.

The final Purchasing Managers' Index (PMI) in the UK dropped to 52.3 points in June, after having unexpectedly jumped to 53.5 points in April. Markets had predicted a deceleration to 52.8 points.