Economic data shows UK faltering as Sunak poised for No 10 – business live

Penny Mordaunt withdraws from Tory leadership race

Back to to the eurozone purchasing managers’ index, the survey which showed that business activity across the bloc had fallen at the fastest pace in two years this month.

Saloman Fiedler, an economist at Berenberg, says the data shows a eurozone recession is “underway”:

The gas supply shock after…