UK Service Sector Growth Slows Again in November

The Markit/CIPS Services Purchasing Managers’ Index fell to 50.2 last month from October’s 50.6 – with a reading below 50 signaling a drop in activity.

This adds to fears that the economy is on the brink of contracting again.

A downgrade in forecasts for economic growth this year is likely to lead to the Chancellor, George Osborne revealing that it is unlikely that he will achieve his targets of cutting the gap between income and spending.

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