‘Stalling’ UK economy reignites recession fears – S&P ...News

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‘Stalling’ UK economy reignites recession fears – S&P
Business activity has been hit by surging borrowing costs, a survey has shown The UK economy is “close to stalling” as business growth has slowed to its lowest level since January, hit by soaring interest rates, a survey by S&P Global Insight has indicated. Private sector activity in Britain has seen a “considerable slowdown” due to sluggish demand, spiraling inflation, and increasingly high borrowing costs, driving July’s PMI Composite Output Index to its weakest levels in six months, according to data shared on Monday. This month’s PMI reading was 50.7, down from 52.8 in June and the lowest since January. A read

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