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UK services sector rallies in December

6 January 2012
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UK services sector rallies in DecemberOperations management investment in the service sector may increase after the UK witnessed a rallying of the industry last month.

The latest Purchasing Managers' Index (PMI) for services activity reveals that it reached a five-month high in December 2011.

An increase in new work rose at the fastest pace since July pushing up the measure to 54, with any value above 50 indicative of expansion.

However, costs rose sharply during the month in question and output charges stagnated, placing additional pressure on companies' margins and negatively affecting confidence in the sector over the coming months.

Commenting on the survey by the CIPS and Markit, the latter's chief economist Chris Williamson said: "Companies grew increasingly worried about the coming year, suggesting that the upturn may prove short-lived as we move into 2012."

The global services PMI, produced by Markit and JPMorgan, has shown that the index rose from 52.7 in November to 53.2 last month, the 29th consecutive month of growth for the sector.ADNFCR-3058-ID-801257196-ADNFCR
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