Bank of Scotland

Markets

Uncertainty over oil causes drop in new orders at service firms

Service companies have experienced a marked fall in new business as a result of uncertainly in the oil and gas industry, according to new research. The latest Bank of Scotland PMI (purchasing managers index) report found that levels of incoming business in the sector declined for the first time in two-and-a-half years in February, with manufacturing also experiencing a fall in new orders for a second successive month.