British services-sector recovery slows

Business activity in Britain's services sector slowed slightly in November, according to a monthly survey of purchasing managers.

The CIPS/Markit purchasing managers index for the sector slipped to 56.6 from a reading of 56.9 in October, coming in below expectations for a slight rise to 57.0.
Services are the dominant sector in the British economy. A reading of more than 50 means a majority of managers saw a rise in activity, while a figure of less than 50 signals a decline in activity.

The survey found the strongest rise in incoming new business since September 2007. Businesses, however, continued to shed jobs for the 19th consecutive month, although the overall pace of job losses was the slowest in more than a year, the report said.