European service industry enjoys June bounce despite Greek woes

London

EUROPE'S vast service industry expanded faster than initially thought last month, surveys showed on Friday, speeding ahead despite warning signs that Greece might crash out of the eurozone.

Firms across the currency union enjoyed a better June than predicted by a preliminary reading, growing at a four-year record pace, while British firms ramped up activity more than anyone in a Reuters poll had forecast.

"While the economic situation is actually progressing and seems to be fairly stable you can't help thinking that there could be a significant reversal in the months ahead if things start to unravel," said Stephen Webster at 4CAST. "People are trying to look through the Greek situation and put a positive spin on things but there are massi…