Growth in UK service industry

The prominent service sector in the UK saw the highest business growth in October than they’d experienced in six months. This was helped through stronger order books and a more “resilient demand”.

Services firms “signalled a shift in momentum” according to a recent survey, with activity reaching the fastest rate since May. This was encouraged by a rise in sales and a string of successful product launches.

The B&Q owner Kingfisher and the drugs groups Informa and NMC Health were among the biggest gainers along with the bottling plant arm of Coca-Cola.

The service industry saw their companies expand, but with some doubting the long-term prospects of this new demand, new employment within the sector ceased.

While this follows the recent growth in both construction and manufacturing industries, economists fear for the growing “fragility” of the economy.