November data pointed to a setback for the UK service sector, with business activity growth easing from the six-month peak seen in October. Volumes of new work also increased at a slower pace, while the rate of staff hiring was the joint-slowest since March.

The seasonally adjusted IHS Markit/CIPS UK Services PMI registered 53.8 in November, down from 55.6 in October, but above the 50.0 no-change value for the sixteenth consecutive month. The latest reading signalled a solid increase in service sector business activity, but the rate of expansion was slightly slower than seen on average in 2017 to date.