LONDON, Jan. 6 (Xinhua) -- British services sector purchasing managers' index (PMI), a gauge measuring the industry activity dropped significantly to 55.8 in December 2014 from 58.6 in November 2014, recording its lowest reading for 19 months, said Markit Economics Limited Tuesday.
The reading was also far below the market estimates consensus of 58.5, though it marked the 24th successive month that the activity index staying above the 50.0 no-change mark.
British services economy experienced a loss of growth momentum at the end of 2014, with both activity and new business rising at their weakest rates in over a year-and-a-half, said the London-based survey compiler.
Meanwhile, December's survey data indicates a rise in employment for the 24th month in a row, although the rate of growth eased to a four-month low, said Markit.
On the price front, reduced fuel prices served to restrict total operating costs inflation at a level well below historical trend, Markit noted.
