Index slump prompts recession warning
The latest IHS Markit/Cips composite purchasing managers’ index for the UK fell to 13.8 last month - the lowest score in over two decades. With a score of under 50 representing decline, the index saw nearly 80% of service sector firms report a drop in activity in April, compared to 43% in March. The report strengthens concerns that the coronavirus crisis may be driving the UK toward the worst recession in living memory.
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