UK DATA: Nov-Jan Services Output Slips, Rises On Month In Jan
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–UK Nov-Jan Services Output Down 0.5% Vs Previous 3 Months
–UK Jan Services Rises 1.3% m/m; 2.2% y/y
–UK Nov-Jan Services Output Hit By Cold Weather
–UK Services Monthly Rise “Bounceback” From Bad Weather In Dec
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Output in the service sector in January rose on the month as the
dominant sector of the UK economy enjoyed a “bounceback” in January
after exceptionally cold pre-Christmas weather led to a sharp
drop in output in December. But the underlying trend remains weak.
Services output rose 1.3% in January versus a 1.1% fall in
December, with growth likely to have been “broadly flat” in both months
had the UK not been hit by heavy snow in December, the ONS said.