The German service sector saw a further loss of momentum at the start of the third quarter as business activity growth slowed notably for a second straight month, the latest HCOB PMI® survey compiled by S&P Global showed. The slowdown stemmed from a drop in demand, with inflows of new business falling for the first time in six months. Business expectations meanwhile deteriorated, which in turn contributed to a marked slowdown in job creation. On the price front, there was a pause in the recent easing trend in service sector inflationary pressures. Driven by growing wage demands, firms' input cost rose at a sharp rate ... (full story)