Mumbai, March 5 -- Business activity rose for a third successive month across Germany's service sector in February, but the upturn continued to lack any real momentum as growth slowed amid reports of muted demand conditions, the latest HCOB PMI survey showed.
Intakes of new work fell again, albeit only slightly, meaning firms increasingly relied on backlogs to support growth. Services firms were optimistic about the year-ahead outlook, but less so than in January.
Job creation was also recorded midway through the first quarter, though it likewise moderated from the month before. Rising labour costs were widely reported, driving a further steep rise in input prices in the sector.
Prices charged were hiked accordingly, with the rate of inf...