Britain's economy came close to stagnating again in February against a back...
LONDON - Britain’s economy came close to stagnating again in February against a backdrop of Brexit nerves and sluggish global growth, and firms in the giant services sector cut staffing at the fastest rate in more than seven years, a survey showed.
After touching its lowest level in January since immediately after the Brexit referendum in 2016, the services PMI edged up to 51.3 from 50.1. A Reuters poll of economists had pointed to a weaker reading of 49.9 in February. Separate data on Tuesday showed consumers reined in their spending in February and shoppers focused on buying food, including for stockpiling, rather than non-essential items.
Under pressure from within her Conservative Party, Prime Minister Theresa May is still seeking to rework the Brexit deal she agreed with other EU leaders. She has raised the possibility of a delay of the departure date until June.
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