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| UK service sector slows in July | UK service sector slows in July |
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| Growth in the UK service sector slowed in July compared with the previous month, according to official figures. | Growth in the UK service sector slowed in July compared with the previous month, according to official figures. |
| The sector accounting for 79% of the UK economy grew 0.2%, compared with a rate of 0.6% in June, the Office for National Statistics (ONS) estimated. | The sector accounting for 79% of the UK economy grew 0.2%, compared with a rate of 0.6% in June, the Office for National Statistics (ONS) estimated. |
| The sector grew 2.8% in July compared with the same month of 2014. | The sector grew 2.8% in July compared with the same month of 2014. |
| The ONS also announced that growth for the whole economy in the second quarter was 0.7%, unchanged from the previous estimate. | The ONS also announced that growth for the whole economy in the second quarter was 0.7%, unchanged from the previous estimate. |
| But the annual growth figure for the second quarter was revised down from 2.6% to 2.4%. | But the annual growth figure for the second quarter was revised down from 2.6% to 2.4%. |
| There was also a faster-than-expected narrowing of the UK's current account deficit in the second quarter. | There was also a faster-than-expected narrowing of the UK's current account deficit in the second quarter. |
| The figure, which is a key indicator of the level of imports and exports, fell to £16.8bn between April and June, from £24.0bn in the first three months of the year. | The figure, which is a key indicator of the level of imports and exports, fell to £16.8bn between April and June, from £24.0bn in the first three months of the year. |
| Real household disposable income per head, which is a measure of the standard of living, rose 1.5% in the second quarter compared with the first, and was up 3.3% compared with the same quarter a year ago. | |
| Analysts suggested that there were signs the UK's economic growth in the third quarter of the year would not be able to keep up the pace achieved in the second quarter. | |
| "However, we expect that the recovery will pick up pace again soon," said Paul Hollingsworth from Capital Economics. | |
| "After all, business and consumer confidence remains strong, credit is cheap and becoming more available, and households are yet to spend all of their windfall from lower energy and food prices." |