Latest PMI® survey data from Markit and CIPS continued to signal growth of the UK service sector in August, but the weakest rate of expansion in over two years. Growth of business activity moderated for the second month running, primarily as a result of the slowest increase in new business since April 2013. Growth remained strong overall, however, and was broadly consistent with the long-run survey average. Firms raised headcounts at a faster rate than July’s recent low, albeit one that remained slower than those registered during the first half of 2015. Inflationary pressure on input costs eased further, and firms’ ... (full story)