UK economic growth is “near stalling”, partly due to uncertainty over the EU referendum, according to a closely-watched survey.
Research firm Markit said its Purchasing Managers’ Index (PMI) surveys for April pointed to growth of just 0.1% in the month.
The latest PMI survey indicated the UK’s services sector grew at its slowest pace in three years in April.
The services PMI reading fell to 52.3 from 53.7 in March.
A reading above 50 indicates growth.
Earlier this week, similar surveys from Markit suggested manufacturing activitycontracted in April for the first time in three years, while construction activity grew at its slowest pace for nearly three years.
Chris Williamson, chief economist at Markit, said the surveys were a “triple-whammy of disappointing news”.
“Some of the slowdown may be attributable to the early timing of Easter, though April also saw an increase in the number of companies reporting that uncertainty about the EU referendum caused customers to hold back on purchases, exacerbating already-weak demand linked to global growth jitters and ongoing government spending cuts,” he said.
“The deterioration in April pushes the surveys into territory which has in the past seen the Bank of England start to worry about the need to revive growth.”
Jobs growth in the services sector was also the slowest since August 2013, reflecting a recent weakening in the labour market as a whole.