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German service sector business activity falls for fourth consecutive month in January
January saw business activity across Germany's service sector fall for a fourth straight month and at the quickest rate since last August, according to the latest HCOB PMI® survey, compiled by S&P Global. The decline was driven by ongoing weakness in demand, although firms refrained from staff cuts amid an improvement in expectations for activity in the coming year. Inflationary pressures meanwhile remained persistently strong. Costs rose at the fastest rate for eight months, driven by wage increases, while output price inflation was little-changed from the month before and still well above its historical ... (full story)