The potential economic impact of the war on Iraq dampened activity in the dominant British service sector during March.
The latest Chartered Institute of Purchasing and Supply (CIPS) survey of the private sector services economy indicated the sector contracted last month.
CIPS' business activity index registered 49.0 in March, down from February's 50.2, to show activity levels in the sector had declined marginally for the first time since December 2001.
The fall in activity during March reflected a decline in levels of incoming new business and the continuing uncertainty in global markets regarding the economic outlook.
Many of those firms surveyed also said uncertainty had been further heightened by the build up to, and subsequent start of, war in Iraq.
Friday April 4 2003
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