UK Recovery Slowing Down, Says BCC

(RTTNews) - The UK recovery slowed down in the final quarter of 2010 on the back of weakness in the service sector, a new survey suggested on Tuesday.

The British Chambers of Commerce's latest quarterly survey, covering over 5,600 business across UK, suggested the economy grew only 0.4-0.5% in the December quarter.

The service sector, which accounts for about 80% of the UK GDP, showed weakness in the December quarter as balances for home orders and investment moved deeper into negative territory, while balances for employment and cashflow were at zero.
On the other hand, manufacturing remained robust, with factories expecting a further increase in their turnover and profitability in 2011.