UK services businesses 'skirt with recession' in Oct-PMI survey
© Reuters. A general view of the financial district of London is seen in London, Britain, October 19, 2016. REUTERS/Hannah McKay/File photoLONDON - Britain's services businesses suffered a loss of momentum for a third month in a row in October, adding to signs the economy is making a weak finish to 2023 as high interest rates and cost of living pressures weigh on demand.
The composite PMI - which includes weak data from the smaller manufacturing sector released on Tuesday - rose to 48.7 from 48.5 in September. New orders fell at their fastest pace this year, reflecting weak domestic demand, although overseas orders from the United States and the Middle East were strong.
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