India, June 23 -- The UK private sector contracted for the second straight month in June due to the sustained weakness in the services sector, flash results of the purchasing managers' survey by S&P Global showed Tuesday.
The flash composite output index dropped to a 14-month low of 49.4 in June from 49.7 in the previous month.
The downturn was caused by the services sector, where sharply rising costs and lower consumer sentiment dampened activity. The weakness in services was partly offset by an increase in manufacturing output. At 48.7, the services Purchasing Managers' Index hit a 41-month low and dropped from 49.3 in May. The score was seen at 50.0.
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