Business · 21 May 2026

UK business activity shrinks, worst in a decade

Job cuts are happening as UK businesses face a "perfect storm" hitting the economy. British businesses reported their first output fall in over a year in May, with the services sector seeing one of its sharpest declines in a decade. The S&P Global PMI dropped to 48.5, which is below the 50 mark for contraction.

By BriefTea Editorial · 21 May 2026 at 15:25

Reported by Guardian · How we write briefs

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