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Slow growth for services sector

The Markit services sector PMI shows smaller growth than in January.

The services sector recorded only limited growth in February, according to a new survey.

The Markit services sector PMI, which monitors performance in the sector, stood at 52.6 over February, slightly over the level of 50 that indicates growth, according to a survey conducted by the Chartered Institute of Purchasing and Supply.

January's figures stood at 54.5 after the sector bounced back following the December slump.

The slower rise in prices for the sector may help to relax calls for the Bank of England to increase interest rates to combat rising inflation.

Speaking to the Guardian, Alan Clarke of BNP Paribas said: "This could be a game changer. It could push the first rate hike back some way."