On Thursday, figures shared by Markit Economics revealed that the UK CIPS/Markit Services Purchasing Managers' Index, stayed strong at 56.6 points in November, which is a fall from the 56.9 points recorded for the previous month, but still at the strong level.

A rating of over 50 indicates expansion in the sector; while that below 50 means that there has been contraction. November has been the 7th consecutive month for which the PMI has stood at an above 50 points level.

"Although growth weakened marginally during November, the recovery of the UK service sector remained intact. Moreover, the forward-looking new orders and business expectations indexes both improved, raising hopes of robust expansion in the coming months", said Paul Smith, a Senior Economist at Markit.

The strongest hike recorded for the month in incoming new business since September 2007, has been credited with supporting the rise in overall activity.

Despite a good growth in the service sector, employment levels recorded a fall once again. Also, input costs faced by service providers grew at the fastest pace since October 2008, while output prices were once again affected negatively by competitive pressures.