Troubled US economy casts shadow over UK growth_2
19 July 2012
Purchasing managers fear that the troubled US economy has led to the weakest growth rate in UK private-sector services in two years, according to the latest CIPS report.
About one-fifth of companies said their activity levels were lower in April than in March, leading to the biggest monthly slump on record.
The manufacturing industry also faced an accelerating rate of contraction and recorded its lowest purchasing managers’ index (PMI) level since February 1999. Falling output and order books contributed to the decline. However...