The latest IHS Markit / CIPS PMI® data for the UK service sector signalled a contraction in activity in September, and the biggest cut in employment in over nine years. With both new and outstanding business declining at the end of the third quarter, companies were the least optimistic of future growth of activity since July 2016 following the EU referendum. The seasonally adjusted IHS Markit/CIPS UK Services PMI® Business Activity Index fell to 49.5 in September, from 50.6 in August, signalling a decline in service sector output. Though indicative of only a marginal rate of reduction, it was only the fifth time in ... (full story)