Business activity decreased again across the UK private sector economy during October. Lower output was seen in both the manufacturing and service sectors, with the former posting the sharper rate of decline. The latest survey also pointed to modest reductions in new order volumes and staffing numbers at private sector firms. Concerns about the outlook for business and consumer spending meant that output growth expectations for the year ahead were the lowest since December 2022. At 48.6 in October, the headline seasonally adjusted S&P Global / CIPS Flash UK Composite Output Index was up fractionally from 48.5 in ... (full story)