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UK service sector rallies in January with new orders rise

6 February 2012
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UK service sector rallies in January with new orders riseAn increase in new orders pushed up the UK's service sector activity last month, new figures show.

In news that may assist with operations management planning, the latest Purchasing Managers' Index (PMI) for the industry revealed that January saw the "single largest monthly improvement in business optimism", taking the measure to its highest point since March 2011 as the industry rallied.

"This rise in business optimism fuelled the largest increase in employment for nearly four years, adding to hopes that this upturn may prove to be more than a flash in the pan," stated Markit chief economist Chris Williamson, adding a note of caution that "much uncertainty persists".

He was pointing to an increase in employment within the services sector at the sharpest rate in just under four years, as well as growth in new work recorded by the CIPS and Markit UK services PMI.

Input cost inflation also fell back during January to its lowest point in 14 months and business confidence jumped at the highest amount ever in a single month.

The overall global PMI for services from Markit and JPMorgan recently showed that sector growth leapt to an 11-month high last month.ADNFCR-3058-ID-801284777-ADNFCR
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