Mumbai, March 6 -- US service sector activity continued to expand during February, but at a reduced pace as new business growth slowed again. Weaker demand growth subsequently weighed on service sector expectations and, amid some worries and uncertainty over federal government policies related to trade and budgets, confidence in the outlook fell in February.
At the same time, job cuts were recorded for the first time in three months.
Cost inflation also picked up in February as suppliers raised prices, although competitive pressures meant that service providers increased their own charges only modestly.
The seasonally adjusted S&P Global US Services PMI Business Activity Index recorded 51.0 in February. Although above the critical 50.0 n...