05.12.12
Service sector figures fall
The UK service sector is at risk of stalling, according to new figures.
The Markit purchasing managers index (PMI) found that the services sector slowed to 50.2 from 50.6 in October and the index for future orders fell to 49/6 from 52.9. The index shows a sector is growing when figures exceed 50.
The services sector accounts for around 75% of the economy and has offset periods of falling manufacturing and construction outputs in the past two years.
The sector covers transport, storage and communications, financial intermediation, business services, personal services, computing and IT, hotels and restaurants.
The new figures are released just ahead of the Chancellor’s Autumn Statement, due this afternoon, and add to fears that the economy is stagnating.
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