The UK private sector contracted at the fastest pace in two years in January with a marked loss of momentum in services activity, and reflected the squeeze on household incomes and risk aversion among corporate clients, results the closely watched S&P Global survey revealed Tuesday.
The S&P Global/Chartered Institute of Procurement & Supply flash composite output index declined unexpectedly to 47.8 in January from 49.0 in December. The expected score was 49.3.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.