UK service sector activity expanded at the strongest pace in ten months in January, confounding economists' expectation for a slowdown, the latest survey by Markit Economics and Chartered Institute of Purchasing & Supply (CIPS) revealed Friday.
The headline business activity index rose to a 10-month high of 56 in January from 54 in December. Economists were looking for a decline to 53.3.
On the price front, input cost inflation eased to the lowest for 14 months while output charges continued to remained unchanged.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.