UK services sector records growth

<p>The services sector is growing faster than it has in over a year.</p>

The UK's services sector has followed both the construction and the manufacturing industries by growing during May.

According to the latest Markit/CIPS Services Purchasing Managers' Index, the services sector grew at its fastest rate since March 2012.

It recorded a score of 54.9 in May – with any figure above 50 denoting growth – which was up from 52.9 in April.

Chris Williamson, economist at Markit, stated that the latest figures show the UK economy is now "firing" after a slow recovery from the recession.

The country recorded growth of 0.3 per cent in the first quarter of the year, but with the services, construction and manufacturing sectors all performing well, this figure could get a boost for the next three-month period.

Chief executive of the CIPS David Noble noted that it seems as though the construction industry in particular has been able to turn the corner after what he described as a "dismal" last six months for the sector.

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