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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by Renju Jaya
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