U.S. service providers indicated that overall business activity declined slightly in February, thereby ending a 27-month period of sustained growth. At 49.8, the seasonally adjusted Markit Flash U.S. Services PMI™ Business Activity Index1 was down sharply from 53.2 in January, but only fractionally below the crucial 50.0 no-change threshold. The index – which is based on approximately 85% of usual monthly replies – signalled the weakest service sector performance since the government shutdown temporarily disrupted business activity in October 2013. Reports from survey respondents suggested that softer underlying new ... (full story)