Growth at two-year low
THE economy risks grinding to a halt as Brexit uncertainty and a global slowdown grips businesses. Activity slowed sharply in November, according to the purchasing managers’ index from IHS Markit.
GDP growth could be slashed to just 0.1pc in the final quarter of the year, tumbling from 0.6pc in the previous quarter. The survey index for Britain’s services sector slowed to 50.4 last month, down from 52.2 in October. Any score of above 50 indicates growth.
Once manufacturing and construction are taken into account the “all sector” PMI slowed from 52.2 to 51, its weakest in more than two years.