UK service sector performance worsens

Britain's service sector performance deteriorated sharply in the second quarter, a survey showed today.

Britain's service sector performance deteriorated sharply in the second quarter, a survey showed today.

The net balance for home sales in the service sector fell to 12 per cent from 23 per cent in the first quarter - the, lowest since fourth quarter of 1998, the British Chambers of Commerce's quarterly economic survey showed.

"The decline in all the export balances, for both manufacturing and services, is very worrying. The government must strengthen support for exporters," BCC director general David Frost said.

"With the economy slowing, and the business environment becoming more dangerous, the Monetary Policy Committee must reduce interest rates quickly to the lowest level consistent with the inflation target."