The UK service sector continued to grow during June, albeit at a slower rate as the additional holidays around the Jubilee and reports of a fragile underlying demand environment weighed on activity and new business wins. Highlighting growing concerns about the UK macroeconomic outlook, business sentiment in the sector fell markedly to hit a six-month low. After accounting for usual seasonal factors, the headline Business Activity Index recorded 51.3. That was down from 53.3 in May and the lowest reading since last October. Growth has now been sustained for 18 months, but has recently seen a deceleration with the ... (full story)