Business · 21 May 2026
UK business activity shrinks, worst in a decade
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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.
Reported by Guardian · How we write briefs