Faster rise in new business supports solid increase in activity in September

CIPS 3 October 2012

Growth of new work the sharpest since May

The UK Markit/CIPS Purchasing Managers’ Index® (PMI®) for the services shows continual rise, but at a slower rate.

Staffing levels were cut for first time in ten months with marginal discounting recorded, and the PMI posted at 52.2, down from previous month's 53.7.

David Noble, Chief Executive Officer at the Chartered Institute of Purchasing & Supply:

“Activity in the services sector continues to occupy positive territory, though growth levels remain below trend, signifying that there is still fragility. However, the sector has been bolstered by robust new business volumes, demonstrating that there is more traction in the sector.

“These figures therefore augur well as we round off the third quarter. With no Bank Holidays until Christmas and the Olympics finished, we now have a three month clear run, without disruptions, to try and get a sense of where the sector – and the economy – really is.

"Hopefully September’s figures will translate into sustainable growth in the fourth quarter as there are no longer any mitigating circumstances (aside from the weather) to blame the economy’s poor performance on. Quarter four will therefore be very revealing."

For press enquiries, call the Press office on 01780 756777or email: The PMI data is available to purchase

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