The latest snapshot from S&P Global and the Chartered Institute of Procurement and Supply (Cips) revealed a “severe and accelerated” decline in manufacturing output in August, alongside weaker activity in the UK’s dominant service sector.
The monthly business survey, which is closely watched by the government and the Bank of England for early warning signs from the economy, found growing worries over soaring inflation and a marked reduction in confidence among firms.
Read more at The Guardian
