UK services growth slowed in November, with the S&P Global UK services PMI survey scoring 51.3, down from 52.3 in October. Tim Moore, economics director at S&P Global, noted that demand conditions weakened in both domestic and export markets. Firms cited subdued business and consumer confidence as reasons for delays in investment decisions and a significant drop in staff numbers. Price inflation eased to its lowest level since January 2021, with Matt Swannell from EY Item Club suggesting that this could lead to an interest rate cut before Christmas.
UK services growth hits a snag
19 responses to “UK services growth hits a snag”
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