ECONOMISTS’ VIEWS: IS THE UK SERVICE SECTOR IN GOOD HEALTH?

DAVID KERN | BRITISH CHAMBERS OF COMMERCE

I think there will be some bounce back in this week’s figures on the service sector, since what happened in December was distorted because of the severe winter weather. And financial, creative and business services are areas which can benefit from growing exports.

ANDREW GOODWIN | ERNST AND YOUNG ITEM CLUB
Survey evidence shows that the service sector rebounded in January, so we are definitely expecting positive numbers next week. I expect business and financial sectors to grow, yet more domestic sectors like hotels and retail distributors could struggle over the next couple years.

CHRIS WILLIAMSON | MARKET
Large chunks of the sector were affected in December because of the snow, such as travel and leisure activities -- yet our purchasing managers’ index showed a bounce back in January. The UK still has an advantage in financial services, which we should not be dismissing.