UK’s services sector loses its resilience

A survey is suggesting that the resilience of Britain’s crucial services sector since last year’s Brexit vote may be coming to an end.

Financial information company IHS Markit says the pace of growth in the services sector, which accounts for around 80 percent of the British economy, eased to its slowest level since September last year.

It said its purchasing managers’ index for the sector fell to 53.2 points in August from 53.8 the previous month amid signs that “Brexit-related uncertainty continued to undermine business confidence.” Anything above 50 indicates expansion.

In the wake of the June 2016 vote to leave the European Union, the services sector held up, helping to cushion the shock of the decision. There’s been a raft of evidence recently showing a Brexit hit.

Meanwhile, Britain’s chief Brexit negotiator will face ques- tions from lawmakers returning from summer recess Tuesday as the government plans to “intensify” talks with the European Union.

David Davis is set to make a statement to the House of Commons as Prime Minister Theresa May braces for her first test of the new term.

Debate

Lawmakers this week will begin debating the government’s Brexit Repeal Bill, which will effectively transfer EU law to UK statute books on the day Britain leaves the bloc.

Some members of May’s Conservative Party are suggesting they may vote against the bill in the later stages of the legislative process.

Lawmakers are also set to press Davis on the progress of Brexit talks. Brussels has expressed frustration amid disagreement over how much money Britain owes the EU. /