Hopes recession over boosted by new figures

Data released by the Chartered Institute of Purchasing Supply () in its latest activity index suggest the services sector grew again in December - the eighth consecutive month of growth. Moreover, the rate of growth increased during the final month of the year, with the index measuring 56.8 in December, up from 56.6 in November. A score above 50 indicates growth. The figures come on the back of upbeat manufacturing data released earlier in the week, with the CIPS purchasing managers' index indicating activity rose at its fastest rate for two years in December. This followed promisi...