More people are involved in financial and business services than manufacturing in almost every region of the UK, according to Ernst & Young's ITEM Club.
The service sector has seen "unparalleled" growth and evolution over the last ten years or so, a special report from the independent economic forecasting group stated.
And according to the ITEM Club's spring forecast, the UK economy will grow by at least three per cent in 2007, more so than any other major global economy.
Mark Otty, chairman of Ernst & Young, said: "The services sector has been driving the unparalleled performance of the UK economy over the last decade or more.
" … the UK services sector outperformed those of all of our main economic rivals, including the United States, since 1990."
The sector, which includes accountants, lawyers, architects, advertising and estate agents is the "key" to the country's future success, Mr Otty added.
Meanwhile, in May UK house prices grew at their slowest rate since the start of the year, according to research from the property website Rightmove.
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