Services Sector Growth Slows Sharply
The services sector maintained its expansion for a 24th straight month, but the pace slowed significantly. The Services PMI fell to 52.8, its lowest level since April, as new business inflows decelerated and export orders contracted for the first time since June. While optimism about future growth remains elevated, adverse weather and rising costs weighed on January’s performance.
Inflation Pressures Intensify Across Sectors
Both manufacturing and services faced accelerating inflation in January, with input costs and selling prices rising at the fastest pace in four months. Manufacturers cited supplier-driven material price hikes, while service providers reported higher staff costs and increased material prices. These pressures led to higher consumer prices, with goods inflation reaching a ten-month high and service prices rising…
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