The US service sector continued to expand in August, despite growth softening slightly since July. A marked uptick in new business volumes helped to support the latest increase in activity, meaning service providers were also suitably encouraged to add to their payroll numbers. That was despite confidence in the outlook remaining relatively subdued and falling to its lowest level in four months amid ongoing worries over tariffs and associated uncertainty. Alongside reports of higher employee costs, tariffs also served to push up service providers’ operating expenses at an elevated pace. Selling prices were increased ... (full story)