UK service sector activity slumps in one of sharpest declines for a decade

Firms hit by ‘perfect storm’ of uncertainty about Labour leadership and impact of Iran war Business live – latest updates Companies in the UK’s dominant services sector have reported one of the sharpest declines in business activity in a decade, according to a closely watched index. Businesses are grappling with a “perfect storm” of domestic political uncertainty around Keir Starmer’s leadership as prime minister and the growing impact of the Iran war, leading to soaring costs, supply short...

By Tom Knowles