News

Positive news on economy

Hopes that Britain’s economic recovery is gathering pace received a boost last month, after the all-important services sector unveiled its strongest growth since January 2007.

The sector – which includes finance, IT and leisure companies – surprised economists by posting a four-point rise in the index of activity published by the Chartered Institute of Purchasing and Supply (CIPS).

Job losses in the sector have also slowed, while expectations among businesses remained positive.

The news helped the pound to recover on the global markets after a difficult few days, and also eased fears that the UK may have fallen back into recession during the first quarter of 2010.

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