Britain's services sector continued its recovery in December with new business on the increase for the eight month in a row. This is good news for Britain as the services sector dominates business in the country.
The Purchasing Managers' Index (PMI) was up from 56.6 in November to 56.8 (anything above 50 is an increase in activity). The new business measure was up from 56.8 to 57 - its steepest rise since September 2007.
Chief executive of the Chartered Institute of Purchasing & Supply (CIPS), David Noble, said: "Last year saw the UK service sector at an extraordinary rate and end 2009 on a high. This was on the back of stronger economic activity, new business wins - especially among larger companies - and growing client confidence."
However, the figures came with the news that the sector continued to shed jobs, albeit at the slowest pace for 16 months.
It should mean that the recession ended in the fourth quarter in the UK. Vicky Redwood at Capital Economics, said: "Even if the surveys prove a bit optimistic, it looks a safe bet that the recession ended at the end of last year."
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