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U.S. service sector output growth hits 10-month low in December
At 53.6 in December, down from 56.2 in November, the seasonally adjusted Markit Flash U.S. Services PMI™ Business Activity Index-which is based on approximately 85% of usual monthly replies–registered above the neutral 50.0 threshold for the fourteenth month running. However, the latest reading pointed to the weakest rate of service sector output growth since the weather-related slowdown in February. In line with softer output momentum, the latest survey highlighted a further moderation in new business growth from June’s post-crisis peak. Moreover, the rise in incoming new work in December was the weakest for ... (full story)