US service providers signalled a further solid performance during February, according to the latest PMI® data from S&P Global. Output rose for a thirteenth successive month, the rate of growth falling only slightly from January's sevenmonth high. New business inflows have now risen for four straight months. Total new order growth nonetheless slipped to the weakest in three months, as new business from abroad dipped back into contraction territory. Pressure on capacity dissipated as backlogs of work fell, aided by a further rise in employment. Business confidence dropped to the lowest since last November, however, ... (full story)