New business at services firms is at its sharpest rate since May 1997.
Britain’s services sector accelerated at its fastest pace for more than six years during August, giving a “glow” to the UK’s economic recovery.
Booming growth in the services sector, which makes up more than three-quarters of the economy, followed upbeat surveys of Britain’s building sites and factories this week to show the economy is firing on all cylinders.
A composite survey combining the three main sectors hit a record high in August, smashing another record set in July.
New business at services firms increased at the sharpest rate since May 1997, while the headline activity rate hit its highest level since December 2006. It was the eighth consecutive month of growth in activity and new orders.
