UK services sector upbeat as activity picks up

The UK services sector has reported its fastest jump in activity for six months, as firms grow increasingly upbeat about the year ahead. Closely-watched survey the S&P Global/CIPS UK Services Purchasing Managers' Index (PMI) found output and new work increased for second month running in December and at the strongest rate for half a year. The poll of 650 firms in the sector, including finance, insurance, communication and non-retail consumer companies, also found a seven-month high in optimism about the outlook for 2024. Some firms also reported better than expected consumer spending on leisure and hospitality services in the run…