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Strong U.S. service sector growth maintained in April
April data indicated a sustained upturn in U.S. service sector output, although the rate of growth eased from the seven-month high recorded in March. This was highlighted by a fall in the seasonally adjusted Markit Flash U.S. Services PMI™ Business Activity Index1 – which is based on approximately 85% of usual monthly replies – to 57.8 in April, from 59.2 during the previous month. The latest index reading was still well above the neutral 50.0 threshold, and pointed to a faster pace of expansion than the average seen since the survey began in late-2009 (55.9). Anecdotal evidence from survey respondents mainly ... (full story)