Hopes of an end to the recession have been heightened by September data from the Chartered Institute of Purchasing and Supply.
New figures indicate that the UK service sector has grown at its fastest pace in almost two years, with the Institute’s Purchasing Managers’ Index (PMI) turning in a better than expected performance and increasing to 55.3, up from 54.1 in August.
The index is based on five indicators: new orders, inventory levels, production, supplier deliveries, and the employment environment.
