Economy
UK recession ‘cannot be ruled out’
British firms saw renewed decline in output in October, sparking concerns among Uk economists
Activity in the UK’s private sector has fallen for the third consecutive month, leading economists to warn that a recession “cannot be ruled out”.
Influential new economic data shows that firms broadly saw a decline in output this month, with falls for both the services and manufacturing industries.
The closely-followed S&P Global/CIPS flash UK purchasing managers’ index (PMI) reported a reading of 48.6 for October, edging slightly higher than the 48.5 figure seen in September.
