'Triple dip' recession less likely with services growth

The UK is set to avoid a disastrous triple-dip recession after encouraging signs of a return to growth for the services sector, which accounts for three-quarters of output.

The latest snapshot of services activity from the Chartered Institute of Purchasing & Supply, where a score above 50 indicates growth, hit 51.5 in January. This was much better than expected and the strongest since last September, despite snow affecting much of the country.