US stock futures flat after Wall St drops on Trump tariffs, soft jobs data
Investing.com -- British services firms experienced a slowdown last month as an impending increase in employer taxes resulted in the quickest job cuts seen in four years.
Despite this, price pressures remained high, according to a recent survey. This highlights the challenges the Bank of England faces this week.
The S&P Global UK Services Purchasing Managers Index, an indicator of the economic health of the services sector, dropped to 50.8 in January, tying for the weakest performance since November 2023.
This is a decline from December’s 51.1 and only marginally above the 50 mark, which separates growth from contraction.
This index was also lower than an initial flash reading of 51.2, indicating a more significant slowdown in the services sector than initially anticipated.
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