British economy slowed by Brexit fears

Britain’s economy appears to have slowed since the start of this year as worries about the global economy, government spending cuts, and a vote on staying in the EU take their toll, a closely watched survey showed yesterday.

Financial data company Markit said its Purchasing Managers Index (PMI) for services recovered only slightly last month after reaching its lowest in nearly three years in February.

Official data last week showed Britain’s economy did slightly better than thought at the end of 2015, but the Markit figures, which economists use as a guide to future official numbers, suggest 2016 got off to a weak start.