According to the CBI’s Service Sector Survey the pace of the recovery in the service sector slowed in the three months to August, but optimism continued to increase, with expectations for a return to growth in the coming quarter. The ease in growth and profitability came after multi-year highs in the previous quarter.

Growth in numbers employed in the business and professional services sector – which includes accountancy, legal and marketing firms – reached its highest rate in nearly seven years. However, the survey of 215 firms revealed there is increased concern that the availability of professional and clerical or other staff is likely to limit business expansion over the next year.

UK manufacturing sees slowdown in Jan but new orders rates rise