• Text size
  • Send this article to a friend
  • Print this article

Warning of clouds gathering over the economy

Britain’s economic recovery appears to have peaked, as the dominant services sector shows signs of losing momentum and the government’s draconian emergency-Budget measures threaten to tip the country back into recession.

Growth in the UK’s services sector lost momentum in June, and confidence plummeted by the largest amount on record as businesses feared the implications of the government’s ­austerity measures.