Service sector growth in the UK stabilised at a solid pace in December, according to the latest PMI® survey data from Markit and CIPS. Total activity rose at a strong overall rate, supported by a sharp rise in new business. Employment increased at a robust pace, albeit the weakest in five months. That said, growth in recent months has been slower than in the first half of the year and when compared with the trend rates set in 2013-14. Reflecting this, outstanding business continued to grow only modestly in December, and firms’ longer-term expectations for business activity were the weakest since early-2013. The ... (full story)