04 April 2007 | Paul Snell
The services sector continued to rise in March, although growth in the sector was only slightly higher than in February.
The CIPS/RBS Purchasing Managers' Index for March, where a figure above 50 represents growth, recorded a figure of 57.6. This was slightly more than February's figure of 57.4. The growth was attributed to more new orders and greater business development overseas.
Outstanding business dropped below 50 for the first time since November 2005, recording 49.8. Yet the index noted that the contraction was only small compared with the previous month's figure of 50.7.
Input prices rose again, but at a slower rate than in February, posting a figure of 59.3. Output prices also increased to a seven-month high of 55.3.
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