Recent data released by Markit/CIPS shows the sector has bounced back into steady growth, following positive news about the construction and manufacturing sectors in the UK. In addition, Southern Europe is bouncing back and even France and Germany are showing some good figures in Services growth.
Let's keep our glasses half full in the run up to Christmas rather than talking ourselves down. Services companies continue to hire to meet demand, and M&A remains strong.
Britain's dominant services sector picked up speed in November to grow at its fastest pace since January, in a further sign that businesses are shaking off the summer's worries of a post-referendum recession. At the same time services firms across Spain and Italy reported improvements while Germany and France expanded at a more muted pace, according to the influential purchasing managers' index (PMI) survey run by IHS Markit. “The further upturn in the vast services sector shows that the pace of UK economic growth remains resiliently robust in the fourth quarter, despite ongoing uncertainty caused by Brexit," said Chris Williamson, chief business economist at IHS Markit. Combined with healthy construction and manufacturing numbers, he believes the economy is on track to grow at 0.5pc in the final three months of 2016.