The UK’s services sector grew at its slowest pace for seven months in October as uncertainty over Brexit undermined business activity. Suggesting the UK economy is entering a period of tepid growth following a stronger performance over the warm summer months, IHS Markit and the Chartered Institute of Procurement and […]
Business
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In August, Chancellor Philip Hammond forecasted massive economic damage from crashing out of the European Union without a deal, warning of a 87.7 percent hit to GDP and an £80 billion black hole in public finances. The Bank of England has also painted a worrying picture, cutting its GDP forecast […]
Rocketing numbers of store closures have added to the problem with many fearing traditional British high streets are doomed. The crisis is being blamed on a “perfect storm” of soaring business rates, high rents, online shopping and a changing retail culture. A study by the Centre for Retail Research has […]
Although business activity in the sector rose, it did so at its slowest rate in over half a year, with hotels, restaurants and leisure providers reporting the greatest slowdown. The numbers will do little to reassure Sterling investors and come shortly after it was revealed that car sales had slowed […]
Much to the disappointment of GBP traders, the services PMI has fallen from 53.9 points to 52.2, instead of printing at 53.3 points as forecast. Commenting on the data, IHS Markit Chief Business Economist Chris Williamson said: “The disappointing numbers bring mounting evidence that Brexit worries are taking an increasing […]