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UK services sector sees ''modest'' growth in February

7 March 2011
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UK services sector sees ''modest'' growth in FebruaryThe services sector in the UK witnessed a modest improvement in growth during February 2011, new figures show.

According to the latest data from Markit and the CIPS, the industry saw expansion comparable to that seen before the extreme winter weather affected results for December and January.

Operations management specialists in the sector may be interested to learn the Purchasing Managers' Index (PMI) for the month demonstrated forward-looking indicators for February were "positive", with new business rising steadily.

In addition, confidence among respondents climbed to a nine-month high, although rising costs continued to put pressure on margins, leading to a slight dip in employment over the period in question.

The activity PMI declined from 54.5 in January to 52.6, following a contraction in December as a result of snow and ice sweeping across the country.

Sectors that performed particularly strongly included personal services and hotels, catering and restaurants.

However, the slowdown in services growth was seen as sharper than anticipated, with the Telegraph predicting it could persuade economists to hold interests rates a while longer.ADNFCR-3058-ID-800446165-ADNFCR
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