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Strong growth of UK service sector sustained
The UK service sector continued to expand at a marked pace during February, supported by another sharp rise in volumes of incoming new business. Faced with higher backlogs and mild capacity pressures, companies recruited additional staff, with the rate of expansion the second fastest in the survey history. On the price front, average input cost inflation strengthened from January’s recent low amid reports of suppliers being willing to increase their prices and higher wages being paid. In response, output charges were increased at a modest pace. The headline seasonally adjusted Business Activity Index recorded 56.7 ... (full story)