By Chris Dorrell The UK economy is likely to continue growing at a reasonable rate in the second quarter, but at a slower pace than earlier in the year, a closely watched survey suggests. S&P’s purchasing managers’ index (PMI), which measures activity in the private sector, came in at 52.4. This was down from 54.1 in April and below the 54 expected by economists. Anything above 50 indicates economic expansion. The figures are consistent with the economy growing 0.3 per cent in the second quarter. “The flash PMI survey data for May signalled a further expansion of UK business activity, suggesti…