Business activity in the UK is getting whacked as we approach the end of the quarter, according to figures published today. The S&P Global Flash UK PMI composite output index – which gauges activity in the privately-held manufacturing and services sectors – fell to six-month lows. Chris Williamson, chief business economist at S&P Global Market Intelligence, said:
“The war in the Middle East has hit the UK economy in March, stalling growth while driving inflation sharply higher. The acceleration in cost growth in the manufacturing sector was especially severe, being the sharpest since the depreciation of sterling following Black Wednesday in 1992.”
A weak Labour government, at times like this, depresses activity yet further…
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