LONDON (Reuters) – Activity in much of Britain’s services sector fell in December for the first time in two years, data showed on Friday, suggesting the economy as a whole slipped back into contraction in the last three months of 2012.

Separate Bank of England figures showed the biggest monthly rise in mortgage approvals since January 2012.

LONDON (Reuters) – Britain’s services sector shrank for the first time in two years in December, data showed on Friday, suggesting the economy as a whole slipped back into contraction in the last three months of 2012.

The Markit/CIPS services Purchasing Managers’ Index (PMI) dropped to 48.9 in December – its lowest reading since April 2009 – from 50.2 in November, confounding economists’ forecasts for a small rise.

LONDON (Reuters) – Britain’s services sector shrank for the first time in two years in December, data showed on Friday, suggesting the economy as a whole slipped back into contraction in the last three months of 2012.

The Markit/CIPS services Purchasing Managers’ Index dropped to 48.9 in December – its lowest reading since April 2009 – from 50.2 in November, confounding economists’ forecasts for a small rise.

LONDON (Reuters) – The services sector shrank for the first time in two years in December, data showed on Friday, suggesting the economy as a whole slipped back into contraction in the last three months of 2012.

The Markit/CIPS services Purchasing Managers’ Index (PMI) dropped to 48.9 in December – its lowest reading since April 2009 – from 50.2 in November, confounding economists’ forecasts for a small rise.

LONDON (Reuters) – Low productivity may have been a bigger factor behind Britain’s slow economic recovery than previously thought, with potentially stark implications for monetary policy, Bank of England research suggested on Thursday.

Previous research had suggested one-off demand shocks were the main reason for Britain’s weak economic recovery from the financial crisis, but the research – co-authored by Bank policymaker Martin Weale – suggested this conclusion was due to flawed statistical techniques.

LONDON (Reuters) – Low productivity may have been a bigger factor behind Britain’s slow economic recovery than previously thought, with potentially stark implications for monetary policy, Bank of England research suggested on Thursday.

Previous research had suggested one-off demand shocks were the main reason for Britain’s weak economic recovery from the financial crisis, but the research – co-authored by BoE policymaker Martin Weale – suggested this conclusion was due to flawed statistical techniques.

LONDON (Reuters) – British factory activity jumped unexpectedly in December to grow at its fastest pace since September 2011, a survey showed on Wednesday, raising the chance that the economy eked out growth at the end of 2012.

The Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) rose to a 15-month high of 51.4 in December from an upwardly revised 49.2 in November – a far stronger increase than any predicted in a Reuters poll of 24 economists.

LONDON (Reuters) – British factory activity jumped unexpectedly in December to grow at its fastest pace since September 2011, a survey showed on Wednesday, raising the chance that the economy eked out growth at the end of 2012.

The Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) rose to a 15-month high of 51.4 in December from an upwardly revised 49.2 in November – a far stronger increase than any predicted in a Reuters poll of 24 economists.

LONDON (Reuters) – British factory activity jumped unexpectedly in December to grow at its fastest pace since September 2011, a survey showed on Wednesday, raising the chance that the economy eked out growth at the end of 2012.

The Markit/CIPS Manufacturing Purchasing Managers’ Index rose to a 15-month high of 51.4 in December from an upwardly revised 49.2 in November – a far stronger increase than any predicted in a Reuters poll of 24 economists.

LONDON (Reuters) – Britain’s budget deficit worsened in November, data showed on Friday, increasing the risk it will lose its top-notch credit rating and overshoot this year’s borrowing forecast.

The data – which showed public sector net borrowing, excluding financial sector interventions, hit 17.5 billion pounds ($28.5 billion) last month – is gloomy news for Britain’s coalition government.