September data pointed to a sustained downturn in UK service sector output, although the rate of contraction was only marginal. Survey respondents often cited subdued demand and cutbacks to non-essential spending among clients. Business sentiment regarding the year ahead outlook remained resilient in September, supported by hopes of a further moderation in inflationary pressures. However, service providers reported a renewed fall in employment, in part due to cost considerations, and the rate of job shedding was the fastest since January 2021. The headline seasonally adjusted S&P Global / CIPS UK Services PMI® ... (full story)