Growth slows in services sector

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p><a href&equals;"http&colon;&sol;&sol;londonglossy&period;com&sol;wp-content&sol;uploads&sol;2010&sol;12&sol;growth-slows-in-services-sector&period;jpg"><img class&equals;"alignnone size-full" title&equals;"Growth in the UK services sector has slowed as businesses warned of a worrying lack of consumer demand" src&equals;"http&colon;&sol;&sol;londonglossy&period;com&sol;wp-content&sol;uploads&sol;2010&sol;12&sol;min-growth-slows-in-services-sector&period;jpg" alt&equals;"Growth in the UK services sector has slowed as businesses warned of a worrying lack of consumer demand"&sol;><&sol;a><&sol;p>&NewLine;<p>Growth in the UK services sector has slowed as businesses warned of a worrying lack of consumer demand before the key Christmas trading period&period;<&sol;p>&NewLine;<p>The sector made job losses for the second month in a row&comma; casting doubt on its ability to compensate for cuts in the public sector&period;<&sol;p>&NewLine;<p>The latest Markit&sol;CIPS Purchasing Managers&&num;8217&semi; Index &lpar;PMI&rpar; survey &&num;8211&semi; where a reading above 50 indicates growth &&num;8211&semi; showed that the services sector registered a slight decline from 53&period;2 in October to 53 in November&period;<&sol;p>&NewLine;<p>Although the sector has now grown for 19 months in a row&comma; the rate of growth has slowed in recent months after it had been above 55 for consecutive months in the middle of the year&period;<&sol;p>&NewLine;<p>David Noble&comma; chief executive at the CIPS&comma; said&colon; &&num;8220&semi;Forward looking indicators are already showing signs of instability&comma; with purchasing managers reporting weak consumer demand&period; This is worrying as we would expect demand to be higher during the Christmas period&period;&&num;8221&semi;<&sol;p>&NewLine;<p>New business increased to its strongest level since June but was described as lacklustre and still well below pre-recession levels&period;<&sol;p>&NewLine;<p>There were reports that clients &&num;8211&semi; particularly among consumers and the public sector &&num;8211&semi; were hesitant to commit to new contracts given ongoing economic uncertainties and worries over public sector spending cuts&period;<&sol;p>&NewLine;<p>Expectations for the future improved slightly but were well down on the levels of optimism in the summer&period;<&sol;p>&NewLine;<p>Following the release of the sluggish growth figures&comma; economists warned the services sector was expected to make a reduced contribution to economic growth in the fourth quarter of the year&period;<&sol;p>&NewLine;<p>Paul Smith&comma; senior economist at survey compilers Markit&comma; said&colon; &&num;8220&semi;The sector&&num;8217&semi;s present growth profile suggests it is unlikely to generate any meaningful job creation and help to offset expected employment cuts in the public sector&period;&&num;8221&semi;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68edd5c233775">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; 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