UK October final services PMI 49.5 vs 49.2 prelim ...Middle East

Prior 49.3Composite PMI 48.7 vs 48.6 prelimPrior 48.5Little change to the initial estimates as services output continue to be dampened by weaker demand conditions at the start of Q4. Of note, the details show the sharpest decline in new work since November 2022. S&P Global notes that:"A shallow downturn in UK service sector activity persisted in October as businesses struggled to make headway against a backdrop of worsening domestic economic conditions and stretched household budgets. "Forward-looking survey indicators suggested that service providers will continue to skirt with recession. The degree of optimism towards the business outlook was the lowest in 2023 so far, despite relief that

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UK October final services PMI 49.5 vs 49.2 prelim ...Middle East

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