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UK: Weakest service sector performance for eight months in September
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)
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