Shock slide in UK services PMI points to stalling economy [Reuters]
IHS Markit Ltd. Common Shares (INFO)
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Source: Reuters
Shock slide in UK services PMI points to stalling economy | Reuters 4 Min Read LONDON (Reuters) - Uncertainty about the terms of Brexit next March clobbered British services firms last month, leaving the economy at risk of contracting, a survey showed on Wednesday. The IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) fell to 50.4 from 52.2 in October, the weakest reading since just after the 2016 Brexit vote and below all forecasts in a Reuters poll of economists. Watched closely by the Bank of England, the PMI suggested Britain’s economy is on track for quarterly growth of just 0.1 percent in the final three months of 2018, IHS Markit said, a sharp slowdown from 0.6 percent in the third quarter. Slowing consumer spending and Brexit uncertainty hobbled services firms in November. Prime Minister Theresa May’s Brexit plan has been agreed with the EU but faces deep opposition in parliament ahead of a Dec. 11 vote, raising the risk of a no deal Brexit shock to the economy in l
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