Services sector shows small signs of recovery

The UK services sector showed tentative signs of recovery at the end of 2022, with businesses reporting an easing in inflationary pressures. The index of activity in the sector inched up in December to 49.9 from 48.8, according to a monthly survey of purchasing managers. However, this was below the rise to 50 predicted by economists. Any number below 50 on the index indicates contraction and this was the third consecutive month that the purchasing managers index has dropped below this level. The Times (£)