05 March 2007 | Steve Bagshaw
The UK services sector continued its growth trend in February, but at a slower rate than over the last quarter.
The latest CIPS/RBS Purchasing Managers' Index, where a reading above 50 indicates growth, recorded growth at 57.4 last month. While down on January's figure of 59.2, the growth indicates an increase in service sector activity for the forty-seventh consecutive month.
Again, higher levels of new business and the fruition of expansion programmes in the sector contributed to the growth. The rate of growth of new work was at its lowest for 15 months.
Confidence of future growth followed the general trend posting a figure of 73.8, but it was down on last month's 76.0.