January data indicated a renewed loss of momentum for the UK service sector, with a decline in incoming new work reported for the first time since July 2016. Subdued demand conditions meant that business activity was broadly flat at the start of 2019, while concerns about the economic outlook weighed more heavily on staff recruitment. Latest data pointed to an overall reduction in payroll numbers for the first time in just over six years. At 50.1 in January, the headline seasonally adjusted IHS Markit/CIPS UK Services PMI® Business Activity Index was down from 51.2 in December and only fractionally above the crucial ... (full story)