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UK economic activity contracted at the fastest pace in almost two years in October as builders reported the first fall in new orders since May 2020, in a further sign of an incoming recession.
The S&P Global/Cips UK all-sector purchasing managers’ index (PMI), which measures month-on-month changes in activity in manufacturing, services and construction, fell to 48.7 in October from 49.4 in the previous month, according to data…
