UK output growth slows in July as service sector recovery loses momentum

From pmi.spglobal.com

UK private sector output continued to increase in July, according to the latest survey data from the S&P Global Flash UK PMI®. However, the rate of growth was only marginal and lost momentum since June amid a renewed decline in new work. Staffing numbers decreased at the fastest pace since February. Survey respondents widely commented on the need to reduce headcounts in response to higher payroll costs and subdued customer demand. Input price inflation accelerated for the first time in three months in July, reflecting stronger cost pressures in both the manufacturing and service sectors. Adjusted for seasonal ... (full story)