The UK's private sector economy contracted notably in October, largely led by the deterioration in the services sector, flash survey data from S&P Global showed Monday.
The Chartered Institute of Procurement & Supply Composite purchasing managers' index, or PMI, which combines manufacturing and services, dropped to a twenty one-month low of 47.2 from 49.1 in September.
The reading was forecast to fall moderately to 48.1. Any reading below 50 suggests decline in activity.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.