The UK service sector expanded at its quickest pace for over six-and-a-half years in July as new business continued to rise strongly amid evidence of an improvement in market conditions. The strong gain in new work placed pressure on capacity, leading to a marked increase in backlogs of work and encouraged solid payroll growth. Service providers were also optimistic about future activity levels while, on the price front, output charges were raised to the greatest degree since June 2011. The headline seasonally adjusted Business Activity Index climbed to its highest reading since December 2006 during July, posting ... (full story)