Activity in Britain's service sector accelerated at its fastest pace in 13 months in March, driving the Markit/CIPS purchasing managers index for services to 57.1 from 52.6 in February. Economists had forecast an unchanged reading. Growth "surprised well to the upside in March, and points to the strongest expansion of the sector since the economy was surging out of its recession early last year," said Paul Smith, senior economist at Markit. Combined with an underlying growth trend in manufacturing and improvement in the construction sector, the data point to growth in gross domestic product of 0.8% in the first ... (full story)