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Economic activity in august, as higher interest rates hit demand. for the first time this year, uk pmi figures fell below the benchmark 50, which indicates a contraction. last month s purchasing managers index, a measure of the health of the economy, was 10.9. the figure was well below the 50.3 economists had forecast. faltering activity in the uk was mirrored in the eurozone, where the index fell to a 33 month low of a7. both figures will be looked closely by bank of england and ecb policymakers ahead of their next interest rate decisions. chris williamson from s&p global told me britain is likely to head into a downturn. the figures are consistent with the economy contracting midway through the third quarter. we ve seen a nice growth resumption in the spring after the problems of last autumn with the truss budget and so forth, ....
Business has picked up again truss budget and so forth. higher interest rates are really taking their toll on the economy now, companies are reporting falling demand and activity, so expect a contraction in this quarter. is demand and activity, so expect a contraction in this quarter. is this the rice contraction in this quarter. is this the price we contraction in this quarter. is this the price we pay contraction in this quarter. is this the price we pay for contraction in this quarter. is this the price we pay for trying - contraction in this quarter. is this the price we pay for trying to - contraction in this quarter. is this | the price we pay for trying to keep a lid on inflation? a lid on inflation? precisely, the whole point a lid on inflation? precisely, the whole point of a lid on inflation? precisely, the whole point of raising a lid on inflation? precisely, the whole point of raising interest i whole point of raising interest rates is to dampen demand. we ha ....
DAN HODGES: Shadow Chancellor Rachel Reeves (pictured) appeared on Radio 4 and Amol Rajan read her childcare measures announced in the Budget. Which did Labour oppose, he asked? ....