The S&P Global/ CIPS flash UK composite purchasing managers index stood at 47.2 in October, below September’s level of 49.1.The UK is not alone, however, with separate S&P data pointing to “impending recession” in Germany, Europe’s biggest economy.Truss resigned last Thursday after just 44 days as prime minister. She had succeeded Boris Johnson on September 6 after a weeks-long campaign against Tory rival Sunak.
“As well as the recovery in sterling and the reduced cost of government borrowing , Sunak will be pleased to see European gas prices” falling.is set to unveil another bumper interest-rate hike at a regular policy meeting next week. “The political and economic uncertainty of the past few months has been hugely damaging to British business confidence and must now come to an end,” she said in a statement after Sunak’s new position was confirmed.
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