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UK services sector sees biggest drop in new orders
The UK's services sector—think finance, tech, communications, and property—just saw its biggest drop in new orders in almost three years.
This slowdown covers about 80% of the economy and has been building since late 2022.
With things looking shaky, all eyes are now on the Bank of England's meeting this Thursday, where a possible interest rate cut is on the table.
Employment index hits lowest point since February
Business costs are up and companies are cutting jobs—the employment index just hit its lowest point since February.
Weak demand and low client confidence aren't helping either. Plus, new trade hurdles like US tariffs are making things tougher.
With recession fears growing, markets think there's a strong chance rates will be cut from the current 4.25%.