Total UK private sector output growth has slowed to its lowest since May as the recently published S&P Global Flash PMI indicates falling confidence in the economy.
UK manufacturing output has also fallen to a 6-month low and around 50,000 jobs have been lost in the 3 months to September. S&P’s Chris Williamson says the latest data brings “a litany of worrying news including weakening growth, slumping overseas trade, worsening business confidence and further steep job losses.” Bad news ahead of Reeves’ Winter Budget…
Commenting on the report, Shadow Business Secretary Andrew Griffith, said: “It’s hard to have confidence when the Chancellor is more out of her depth than that Titanic submarine.” Iceberg ahead…
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