UK business confidence drops – survey ...News

Investment in new projects is down as companies take a wait-and-see approach, S&P says Businesses in the UK’s service sector posted their biggest decline in activity in October since January 2021, according to a report by Standard and Poor’s released on Thursday. The S&P Global UK Services Purchasing Managers’ Index (PMI) fell to 48.8 points last month, down from 50.0 in September, marking the worst reading since the pandemic-affected print in January 2021. A level below 50.0 signals a contraction, while a reading above that indicates an expansion. According to the survey, political uncertainty, rising borrowing c

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