The UK service sector shrank for the third straight month in October as the cost of living pressures, high interest rates and weak consumer sentiment curbed demand, survey data published by S&P Global and the Chartered Institute of Procurement & Supply showed Friday.
At 49.5, the services Purchasing Managers' Index rose from 49.3 in September. The flash reading was 49.2. Despite an increase, the score below 50.0 signaled contraction in the sector.
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by Renju Jaya
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