The US service sector remained in growth territory at the end of the opening quarter of the year as success in securing new business led companies to expand their output. Rates of expansion eased in both cases, however. Firms nevertheless continued to increase their staffing levels amid improved optimism about business prospects in the year ahead. Both input costs and output prices increased sharply in March, often as a result of rising wages. In fact, the respective rates of inflation quickened to six- and eight-month highs to rise further above pre-pandemic averages. The seasonally adjusted S&P Global US ... (full story)