Rising costs and slower consumer spending hit service sector, says CBI

Survey latest to show decline in businesses optimism, with many expecting slowdown to replace robust growth since Brexit vote

The strain of sluggish consumer spending and rising wages hit profits and dented the optimism of the UK's services sector in November, according to the Confederation of British Industry.

Predictions of a healthy Christmas failed to lift the sector's spirits after falls in the pound and a rise in the government national living wage increased costs, a survey by the CBI found.