The rate of expansion in business activity at U.S. service providers picked up for the first time in three months during September, but remained relatively modest. Meanwhile, growth of new orders eased to a four-month low and companies reacted to modest inflows of new work by reducing their rate of hiring. There was no sign of inflationary pressures building during the month as both input costs and output prices rose at weaker rates than in August. A dip in confidence was also registered in the latest survey period. Adjusted for seasonal influences, the Markit Flash U.S. Services PMI™ Business Activity Index rose to ... (full story)