Economic Buzz: UK business activity expands in July

The United Kingdom PMI Composite Output Index rose to 52.2 in July from 49.3 in June, returning above the 50-point mark that separates growth from contraction, S&P Global said on Wednesday.

The Services PMI Business Activity Index increased to 52.1 from 48.8, signaling the first expansion in three months. Total new business grew for the first time in three months, while employment continued to decline amid further job losses in services.

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