'Post-Budget clarity' drives rebound in services sector

THE services sector is bouncing back from crippling pre-Budget fears with activity at a five-month high, according to bosses.

- Anna Wise

Leaders across hospitality, entertainment, culture, finance, insurance, real estate and business services reported greater consumer confidence, new projects starting and more willingness to spend.

But the optimism comes after the sector faced the longest period of job cutting in 16 years. The findings emerged in the S&P Global UK services PMI survey. It scored 54.0 in January, up from 51.4 in December, after quizzing hundreds of companies.

Any reading above 50.0 means growth - and last month’s result shows the fastest period of expansion since August.