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The service industries include the retail sector, the financial sector, the public sector, business administration, leisure and cultural activities.

In 2019, the service industries accounted for 80% of total UK economic output (Gross Value Added). Services accounted for 82% of employment in July-September 2020.

Services Output

There was a rise of 1.0% in the Index of Services between August and September 2020.

There was an increase of 14.2% in services in the three months to September 2020 compared with the three months to June 2020.

In the three months to September 2020, compared with the three months to September 2019, services output decreased by 10.0%.

Purchasing Managers’ Index (PMI)

In the Markit/CIPS PMI, a value of 50 means that there is no change in activity compared to the previous month. Values above 50 indicate an expansion, and values below 50 a contraction.

The UK services PMI was 47.6 in November 2020, compared with 51.4 in October. This fall took it below 50 for the first time since June, and was largely attributed to the reintroduction of restrictions in consumer-facing parts of the services sector.

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