UK Services Rebound as Electric Car Sales Stall; Fed Urges Patience on Rates

UK services sector posts fastest growth in 8 months in January, with output growth accelerating and new orders rebounding. Cost inflation also eases.

UK hits 1 million electric vehicles registered, but private buyer demand falls - government urged to cut VAT to boost consumer uptake.

Germany's services sector shrinks for 4th straight month, while its exports also dropped sharply in December.

US Fed chair Powell urges patience and prudence before cutting interest rates, warning inflation may not be fully contained yet. Markets pare back rate cut expectations.

UK unemployment rate revised down to 3.9%, but workforce now seen as "bigger but sicker" with record numbers economically inactive due to ill health.