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UK business output contracts for first time in over a year

British business output has contracted for the first time in over a year, with the S&P Global Flash Composite PMI falling to 49.9 in November. Tax increases from the new government’s budget have dampened hiring and investment plans, leading to job cuts and a pessimistic outlook, particularly in the manufacturing sector. The services sector also showed weakness, with inflation concerns prompting caution from the Bank of England.
SWI swissinfo.ch
British Pound Sterling Bank of England S&P Global Inc. GBR William Schomberg Rachel Reeves Chris Williamson Keir Starmer Show more
Finance & Economy, Market Report
10:33 22.11.2024
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