A slowdown in new orders hits service sector activity, the latest PMI data finds, with a recovery for factories failing to offset the hit.
Growth in the UK's powerhouse services sector has cooled by more than expected to its weakest level in six months, according to a closely-watched survey of businesses. As campaigning got under way for a general election that is widely expected to be dominated by the economy, the S&P Global UK Composite Purchasing Managers' Index suggested an overall slowing in the pace of business activity. The index, in which any reading above 50 represents growth, came in at 52.
The new year has marked the end of a six-month recession for the UK economy - a downturn that was largely blamed on the effects of interest rate rises by the Bank to tame inflation.
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