Recession fears as services sector dip hits economy

Britain's economy is feared to have plunged back into the red after figures suggested the powerhouse services sector shrank last month for the first time in two years. The Markit/CIPS purchasing managers' index (PMI) survey showed a reading of 48.9 in December, down from 50.2 in November and below the 50 mark separating growth from contraction. The result marked the first dip in the services sector since a snow-related decline in December 2010 and comes after disappointing...