JP Morgan: Service sectors slip in September

JP Morgan: Service sectors slip in September

UK
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The flash purchasing managers’ index (PMI) for September indicates that the pace of recovery in the UK services sector is slowing

In the eurozone, where Covid-19 cases started rising again sooner than in the UK, service sector activity appears to already be contracting again. It seems apparent that higher Covid-19 infections will impede the recovery of the services sector and suggests a potentially difficult road ahead. The recent restrictions announced by the UK government aim to limit the spread of the virus while minimising the cost to the economy, but this is a difficult balancing act to strike. If infections continue to rise, more restrictive measures could be required. What seems clear is that a return to normality rests increasingly on hopes of a vaccine.

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