The latest survey from the Chartered Institute of Purchasing and Supply has found that for the fourth consecutive month, there has been an increase in growth for service companies.

The authoritative CIPS survey of purchasing managers predicts that expansion in new business and new orders will continue throughout the next six months.

The survey's authors commented that the overall increase was due to "improving economic conditions; including demand for property, an increase in UK manufacturing activity and the strength of the housing market."

The survey notes that "Firms throughout the service sector reported that increased market confidence had led to rising levels of business in June, mainly as a result of lower interest rates."