October data pointed to a much weaker rise in business activity across the UK service sector, with the rate of expansion the slowest for four months. There were also signs of a sharp reversal in demand conditions, with new work falling for the first time since June. Survey respondents in the hospitality, transport and leisure sectors widely commented on an adverse impact from tightening restrictions on trade due to the coronavirus disease 2019 (COVID-19) pandemic. Adjusted for seasonal influences, the IHS Markit/CIPS UK Services PMI® Business Activity Index registered 51.4 in October, down sharply from 56.1 in ... (full story)