UK service providers highlighted a considerable reversal of fortunes during December as the Omicron variant led to a steep fall in spending on face-to-face consumer services, escalating business uncertainty and disruptions due to staff absences. Business activity growth was the weakest since the rebound from lockdown measures began last spring. On a more positive note, job creation remained relatively strong, cost pressures eased from November's peak and output growth expectations improved slightly. Around 55% of the survey panel anticipate a rise in activity over the course of 2022, while only 10% forecast a ... (full story)