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US business activity growth strengthens in November
U.S. service sector firms signalled a quicker expansion in business activity in November. Although only marginal, the increase in output was supported by a renewed upturn in new orders. Foreign client demand remained lacklustre, however, with new business from abroad continuing to fall. Greater new order inflows and a subsequent rise in backlogs of work led to a return to growth in employment, albeit only fractional overall. That said, business confidence remained muted and close to historical lows. Meanwhile, inflationary pressures were relatively subdued, with selling prices increasing only fractionally. The ... (full story)