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US service sector growth remains subdued in June
June data highlighted another subdued month for the U.S. service sector, with activity growth remaining marginal and job creation easing to its least marked for a year-and-a-half. Incoming new work increased at the fastest pace since January, but the rate of expansion remained weaker than its post-crisis trend. Meanwhile, service providers indicated another drop in confidence regarding the year-ahead business outlook, with the latest reading the weakest since the survey began in late- 2009. At 51.3 in June, the seasonally adjusted Markit Flash U.S. Services PMI™ Business Activity Index1 was unchanged since May and ... (full story)