UK Economy Drives Confidence in Europe's Services Sector
The strengthening British economy has lifted confidence in the services sector across the European Union.
According to October's Economic Sentiment Indicator (ESI), the "markedly improving confidence in the largest non-euro area EU economy, the UK" was "the main reason for the sharp plus in services" outside the eurozone.
This month the service confidence indicator score for the EU was 3.6 and for the euro area it was -3.7.
The UK economy has been gathering strength over the course of 2013.
Britain's GDP expanded 0.6% in the three months to June, according to a preliminary estimate from the Office for National Statistics (ONS), as all four main industries in the economy - agriculture, production, construction, and services - reported rising output on the quarter before.
Osborne's rhetoric appeared to be borne out by the latest Office of National Statistics (ONS) figures on public sector borrowing published on the 22 October 2013.
Government spending tumbled by £12.4bn ($19.9bn, €14.6bn) for the 2013-14 period
Also the figures showed that in 2012 to 2013 period, public sector net borrowing was £115.4bn, which was £3.1bn lower than in 2011 to 2012.
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