UK services sector lost steam in lead up to the budget, PMI shows
Britain’s services sector lost momentum in the run-up to the new government’s first budget in October, with business activity growing at the weakest rate in 11 months and the first fall in employment since December, a survey showed on Tuesday.
The S&P Global UK Services Purchasing Managers Index stood at 52.0 last month from September’s 52.4 – the slowest pace of increase since November 2023.
October’s reading was slightly higher than a preliminary estimate of 51.8.
The composite PMI ...
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