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Sharpest increase in US service sector output for three months in August
U.S. service providers indicated a sustained rebound in business activity and employment numbers during August. New business volumes increased at a solid pace, but the latest rise was the least marked for three months, with some firms noting that heightened economic uncertainty had weighed on client spending patterns. Meanwhile, lower fuel prices contributed to a further slowdown in input cost inflation during August and average prices charged by service providers fell for the first time since June 2013. Adjusted for seasonal influences, the final Markit U.S. Services Business Activity Index posted 56.1 in August, ... (full story)