Member Article

Service sector regains ground

The UK service sector appeared to claw back ground in July, as the ONS release figures showing output increased by 1.1%.

The small increase follows a decline of 1.5% in June, as additional bank holidays for the Diamond Jubilee were said to have impacted output.

All key industries within the sector including hotels and restaurants; transport, storage and communication; and business services and finance, registered growth.

Hotels and restaurant showed the biggest rise with 1.8% growth, and business services and finance output was up 1.2%.

Performance in the service sector is a key indicator of economic health, and the news follows this week’s upwards revision of the GDP figure for the second quarter.

This was posted in Bdaily's Members' News section by Tom Keighley .