Germany's service sector slipped back into contraction in August after having grown throughout the first seven months of the year, the latest HCOB PMI® survey compiled by S&P Global showed. Businesses reported a sustained weakening of demand amid a backdrop of economic uncertainty and strong inflationary pressures. Rates of increase in both service sector input costs and output prices remained well above their long-run averages, with the former even accelerating slightly from the month before. Business expectations in the service sector meanwhile picked up slightly after hitting an eight-month low in July. ... (full story)