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UK: Subdued service sector growth persists in December
UK service providers indicated a rise in business activity for the eighth successive month. However, the pace of expansion was only marginal and little-changed since November. At 51.4 in December, up fractionally from 51.3 in the previous month, the headline seasonally adjusted S&P Global UK Services PMI Business Activity Index remained much weaker than its long-run trend (54.2). The index was also lower than the earlier 'flash' reading of 52.1 in December. Survey respondents continued to report challenging business conditions, sales headwinds from subdued UK economic prospects, as well as constrained client ... (full story)
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