India, Aug. 5 -- The British service sector returned to growth territory in July amid a renewed expansion in new orders, final results of the purchasing managers' survey by S&P Global showed Wednesday.
The services business activity index rose to 52.1 in July from 48.8 in the previous month. The flash score was 51.8. A score above 50 indicates expansion, while any reading below 50 suggests contraction.
The rise in new orders was attributed to an upturn in business investment spending and reduced risk aversion, despite sluggish economic conditions at home and abroad. Meanwhile, new export orders decreased for the fifth straight month amid disruptions linked to the Middle East conflict and strong competition.
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