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Solid rate of UK service sector output growth maintained in February
UK service providers experienced a sustained increase in business activity in February, supported by stronger new order growth and aided by another modest rise in employment numbers. The overall rate of output growth was only slightly softer than January's eight-month high. Moreover, output growth projections for the year ahead were the most upbeat since February 2022. Input price inflation meanwhile accelerated in February and was the highest for five months, mostly due to elevated wage pressures. Some firms also noted rising shipping costs. Squeezed margins led to the second-fastest increase in prices charged by ... (full story)