Data shows a slump in new orders for manufacturers and still-high living costs taking a toll on consumers, raising the prospect the economy could soon enter recession.
Its measures had services output slowing this month but remaining above the bar for expansion while manufacturing was in the red, and at its weakest level since May 2020, as new orders slumped.
The report's findings will, perversely, make for positive reading at the Bank of England as it seeks a slump in demand to help bring inflation down.The so-called secondary effects it is worried about includeThe reasons for that include the granting of wage rises to keep pace with theAdvertisement The Bank, which is widely tipped to raise the base rate of interest by a further 0.25 percentage points next week, has blamed wage rises and evidence of some raised corporate profitability for inflation proving sluggish to bring down.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigel Farage accuses NatWest of giving his data to BBC and complains to Information CommissionerThe former Brexit Party leader says a 'BBC report gives rise to the inescapable conclusion that NatWest Group provided the media with confidential information (and personal data) regarding my financial affairs'.
Read more »
What GPS data reveals about the way Hamilton beat Verstappen to Hungary F1 poleMax Verstappen failed to match his personal best times in both the first and final sectors when piecing together one last flying lap in qualifying for the 2023 Formula 1 Hungarian Grand Prix.
Read more »
What GPS data reveals about the way Hamilton beat Verstappen to Hungary F1 poleMax Verstappen failed to match his personal best times in both the first and final sectors when piecing together one last flying lap in qualifying for the 2023 Formula 1 Hungarian Grand Prix.
Read more »
A clue to China’s true covid-19 death tollAuthorities in Zhejiang recently released what they probably thought was innocuous data about cremations in the first quarter of 2023. It provides a clue to the country’s true covid death toll
Read more »