UK service sector sees solid growth

The UK service sector grew at its fastest pace for seven months in March, according to the Markit/CIP purchasing managers’ index. Services increased by 0.6, from 51.8 in February to 52.4 last month — figures above 50 indicate growth. Since the service sector accounts for approximately 75% of the UK economy, the trend established by the sector in the previous few months suggests that 2013 might conclude more optimistically in terms of overall economic growth — although it is too early to make any stronger claims.

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