January data revealed a stronger upturn in UK private sector output than at the end of 2023, led by a further rebound across the service economy. The rise in service sector activity was the fastest since last May, whereas manufacturing production decreased to the greatest extent for three months. The latest survey also indicated a return of modest private sector employment growth at the start of 2024, supported by improving demand conditions and higher levels of optimism towards the business outlook. Private sector firms meanwhile recorded the steepest rise in input costs since August 2023, driven by renewed cost ... (full story)