Service Sector - Confidence Levels Up

The quarterly survey from the Confederation of British Industry has revealed that the UK's service sector has shown a rise in confidence for the first time in 12 months.

Confidence amongst business and professional services firms is now the highest since 1999, signalling strongly that the service sector may be putting the worries that followed September 11th firmly behind it.

CBI chief economic advisor, Ian McCafferty, however, warned that companies still face a challenging time ahead in the next few months.