Recession fears 'fade' as UK's service sector growspublished at 12:11 British Summer Time 5 September 2016
The UK's services industry rebounded strongly in August, suggesting the country will "avoid recession", according to a closely-watched survey.
The Markit/CIPS purchasing managers' index, external (PMI) showed activity in UK services saw its largest month-on-month rise in the survey's history.
The index rose from 47.4 in July to 52.9 in August. A score above 50 indicates growth.
It effectively takes services back to pre-Brexit levels, Markit said.