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UK: Weakest service sector performance for six months
UK service providers experienced another period of subdued business conditions during July, with activity levels and new work expanding at much slower rates than in the previous month. Pressure on operating capacity subsequently showed signs of easing as backlogs of work declined at the fastest pace for nearly two-and-a-half years. Strong rises in input costs persisted during July, largely driven by higher wages. Moreover, the overall rate of input price inflation edged up since June and remained historically elevated. Prices charged inflation nonetheless eased to its lowest since March, with some firms citing ... (full story)