UK service providers signalled that August was the worst month for business activity growth since the current phase of recovery began in March. The slowdown partly reflected a normalisation of customer demand after the initial loosening of pandemic restrictions during the second quarter of 2021. However, there were also widespread reports that shortages of staff and disrupted supply chains had constrained growth in August. Staff recruitment picked up to its strongest since the survey began in July 1996 as businesses sought to rebuild workforce numbers in response to rising sales. Competitive labour market conditions ... (full story)