British services sector continues to grow

Britain's rapidly expanding services industry showed no signs of fatigue in February as growth in new business boosted an already…

Britain's rapidly expanding services industry showed no signs of fatigue in February as growth in new business boosted an already healthy sector that raised prices and added staff during the month.

The Chartered Institute of Purchasing and Supply said today a strong economy helped growth in the services sector by encouraging fresh trade; more than one in five panel members reported an increase in activity.

The growth looked set to continue as two-thirds of firms expressed optimism over the sector's future.

But an overall seasonally adjusted business-activity index remained at January's figure of 57.1.

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A reading above 50 denotes expansion; while one below signifies contraction.

The survey attributed the ongoing growth to a marked increase in new business, which rose to its highest level in seven months at 57.7 in February after falling to 56.3 in January.

The robust state of the UK economy was largely responsible for the increase, the purchasing and supply institute.