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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