Sun. Oct 25th, 2020

Brexit uncertainty squeezes UK economy as service sector stagnates– business live

Rolling coverage of the latest economic and financial news

Earlier:

12.35pm GMT

Our news story on today’s services sector healthcheck is live – here’s a flavour:

Services companies suffered their seventh monthly decline in new orders this year, as Brexit uncertainty continued to take its toll on business and consumer confidence at home and abroad.

Export orders were the worst affected last month, falling at the same pace as the near record fall in September, according to IHS Markit and the Chartered Institute of Procurement and Supply (Cips).

Related: UK service sector stagnates as Brexit fears hurt orders

12.22pm GMT

The Financial Times makes a good point — Britain’s services companies has underperformed French and German rivals this year (according to the PMI surveys, anyway).

UK private sector activity stagnated at the start of the fourth quarter as the country gears up for an election campaign ahead of the December 12 poll and the planned departure from the EU https://t.co/fDphvJhpya pic.twitter.com/74ANPrq90J

Continue reading…Rolling coverage of the latest economic and financial newsLatest: UK service sector flatlined in OctoberBritain’s private sector output contracts againFirms lay off staff as new business declinesUK car registrations down 6.7%Earlier:US could roll back recent tariffs on ChinaMacron: Trade war must end 12.35pm GMTOur news story on today’s services sector healthcheck is live – here’s a flavour:Services companies suffered their seventh monthly decline in new orders this year, as Brexit uncertainty continued to take its toll on business and consumer confidence at home and abroad.Export orders were the worst affected last month, falling at the same pace as the near record fall in September, according to IHS Markit and the Chartered Institute of Procurement and Supply (Cips). Related: UK service sector stagnates as Brexit fears hurt orders 12.22pm GMTThe Financial Times makes a good point — Britain’s services companies has underperformed French and German rivals this year (according to the PMI surveys, anyway).UK private sector activity stagnated at the start of the fourth quarter as the country gears up for an election campaign ahead of the December 12 poll and the planned departure from the EU https://t.co/fDphvJhpya pic.twitter.com/74ANPrq90J Continue reading…

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