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Accelerated increase in UK service sector activity

4 August 2011
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Accelerated increase in UK service sector activityActivity in the UK service sector expanded at an accelerated rate during July this year, new figures indicate.

According to the latest Business Activity Index for the industry, new business volumes pushed up the measure to its highest rate in four months, climbing from 53.9 in June to 55.4, with any number above 50 suggestive of growth.

In addition, July 2011 also saw price indices dip and respondents reported improvements in demand and market conditions, with sharp gains recorded in the IT and computing and business services sectors.

However, there was a slight fall in employment within the service sector and fears over the future performance of the UK economy continued to dampen optimism.

Commenting on the figures, Markit senior economist Paul Smith stated: "A key question will be whether July’s above average increase in service sector activity can be sustained going forward."

The improvement in service sector output comes after the manufacturing industry contracted for the first time in two years during July.ADNFCR-3058-ID-800690049-ADNFCR
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