Businesses in the sector, such as those at the restaurant trade show at the Olympia in west London this week, reported staff cuts PENELOPE BARRITT/ALAMYBritain’s dominant services sector unexpectedly contracted last month, raising the prospect that Boris Johnson may end up calling an election just as the country slips into recession. Activity among services companies, which range from banks to architecture, shrank in September for only the fifth time in a decade, the monthly purchasing managers’ index showed. With manufacturing and construction also in decline, the composite PMI indicator is now pointing to contraction in the third quarter. Following the 0.2 per cent fall in second-quarter GDP, negative growth in the three months to September would extend the decline to two consecutive quarters, meeting the definition of a technical recession. Official figures are due early next month and, if confirmed, it would be the first official downturn since 2009,…

Source: The Times October 03, 2019 23:03 UTC