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UK private sector downturn eases in December, but employment slips into decline
Latest PMI data pointed to a contraction of UK private sector output for the fifth month running in December amid a further deterioration in client demand. That said, the falls in business activity and new orders were the least severe since September. Nevertheless, companies took a more cautious stance with regards to staffing levels, with overall employment falling for the first time since early 2021. Although business confidence regarding output over the next year improved to its highest in four months, it remained historically subdued amid recessionary fears, intense cost pressures and concerns over further falls ... (full story)