UK business activity stagnated in October, accordi

Aihuicha, October 24: PMI data show that British corporate activity fell again in October, cost pressures cooled further, highlighting the risk of recession ahead of the Bank of England's interest rate decision next week. Britain's service sector PMI fell to 49.2 in October from 49.3, the lowest level since January, and below the 50 boom bust line for the third consecutive month. Although the recent deterioration in employment has eased, indicators of new business in the UK have fallen to their lowest level since November. Although sales prices rose slightly faster, service companies reported the smallest increase in input costs since February 2021. Overall, the purchasing managers' index shows that the economy will stabilize, and corporate optimism has fallen to its lowest level this year. The data could strengthen the Bank of England's expectation that interest rates will remain unchanged in November.