Growth in Britain's services sector was the slowest in eight months in June as new business fell away, while fears for the economy weighed on confidence.
The global recession which started in Europe, is strengthening led by further declines in the eurozone. Markit reports Eurozone sees steepest contraction since June 2009 despite downturn easing in Germany.
Key Points
Fears that Britain is sliding into a triple-dip recession have been rejected by a leading business group as it reported a pickup in jobs, investment and activity in both the manufacturing and services sectors, reports The Guardian.
Growth in Britain's dominant services sector was stable in May as new business rose, lessening the prospect of £50bn of stimulus from the Bank of England on Thursday.