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UK: Strongest service sector performance since May 2023
January data signalled a solid increase in business activity across the UK service economy, which extended the current period of expansion to three months. Higher levels of output were supported by a sustained rise in new orders. Survey respondents typically commented on improved confidence among clients due to strengthening economic conditions and expected interest rate cuts. Service providers noted that strong wage pressures continued to push up operating expenses, although these were partly offset by lower fuel costs and raw material prices. Measured overall, the rate of input cost inflation matched its level ... (full story)