More Labour Misery23 Apr 2025 10:11
“Britain’s private sector output shrank at its fastest pace in two and a half years, a closely watched survey showed as business optimism plunged.
The S&P Global flash UK PMI index showed a contraction in activity for the first time since October 2023, with its reading of 48.2 the lowest since November 2022. A reading below 50 indicates shrinking output.
Aside from the pandemic, manufacturing exports declined at the fastest pace since February 2009.
Chris Williamson, chief business economist at S&P Global, said: “While recent months have been characterised by UK businesses treading water, broadly stagnating since last autumn’s Budget, businesses are reporting more of a struggle to keep their heads above water in April.”
He added: “Job cutting remains aggressive as business optimism about the year ahead sank to a two-and-a-half-year low, and one of the lowest levels yet recorded by the survey, even surpassing the low seen in the immediate aftermath of the Brexit vote in 2016.
“The disappointing survey reflects the impact of headwinds from both home and abroad. The biggest concern lies in a slump in exports amid weakened global demand and rising global trade worries, but higher staffing costs have also piled pressure on companies – linked to the National Insurance and minimum wage changes that came into effect at the start of the month.”
Who voted for these morons ? Not me……