UK On Brink Of Recession As Services Sector Contracts With Manufacturing, Construction For First Time Since 2009

UK On Brink Of Recession As Services Sector Contracts With Manufacturing, Construction For First Time Since 2009

A day on from the worst session in years for UK stocks and a similarly heinous rout across European indexes, the market was forced to digest still more signs of economic malaise. The services sector in the UK contracted in September, as IHS Markit's gauge fell to 49.5. That was well short of estimates (50.3) and a tick below the most pessimistic prediction from 33 economists (the range was 49.6 to 51.2). This now means manufacturing, construction and services surveys are all below 50 for the f
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