According to a new survey, the UK's service sector grew at its slowest pace in almost two years as the new orders fell and uncertainty continued in the global economy.

The Markit/CIPS Services Purchasing Managers' Index for the UK's service sector fell to 50.2 in November from 50.6 recorded in the month of October. On the index, any rating above 50 means expansion while that below 50 means contraction. The index measures overall service industry activity in the country.

Chris Williamson, chief economist at Markit said, "The survey adds to worrying signs that the economy faces a renewed slide back into contraction after the temporary growth surge seen in the third quarter."

The sector saw some major service firms running down outsourcing business in the recent months. The data indicating slow growth for the sector which is barely remaining in the black will add pressure on George Osborne, which is announcing half-yearly budget statement to parliament.

It is estimated that the Chancellor George Osborne might have to look for a further 11 billion pounds of tax increases or cuts as the plans for cuts extend beyond the election period. Experts say that week economic performance since March indicates that the government might be forced to make more cuts and also record an increased borrowing for the year next month.