'Surprise' service sector activity fall
Activity in the UK's services sector fell for the first time in two years in December, a survey has suggested, raising fears of yet another recession.
The PMI services index from Markit/CIPS fell to 48.9 in December, down from 50.2 in November. Any score below 50 indicates the sector is shrinking.
Markit blamed the contraction on a fall in new business.
Chief strategist at Mint Partners Bill Blain told BBC News that the decline was a surprise to economists.
04 Jan 2013
- From the section Business