The well-respected S&P Global flash UK PMI composite output index, which is regarded as a measure of the the general health of the private sector, has plummeted. The index fell from 51.8 last month to 49.9 today – the lowest measure since October 2023. Falling below 50 means the majority of companies’ output is in decline…
S&P chief business economist Chris Williamson says “employment has now been cut for two consecutive months… downturns in output and hiring represent marked contrasts to the robust growth rates seen back in the summer and are accompanied by deepening concern about prospects for the year ahead.” At the same time retail sales fell by almost 1% last month and the pound has fallen to its weakest level agains the dollar since May. Budget blues…
Red Wall Labour backbencher Jonathan Brash told GB News that Starmer should resign:
“I’m completely fed up about it, and I think it’s got to the point now where I genuinely think that, as far as the Prime Minister is concerned, it’s not a case of if, it’s when.”