UK economic activity has dropped to the lowest level since May as a result of the latest coronavirus lockdown, post-Brexit red tape and broader port disruption, according to the first comprehensive business survey of the year.
The flash IHS Markit/Cips purchasing managers’ index for services, a measure of economic healthare permitted for up to 50 people as long as there is a COVID-19 safety plan., fell to 38Ontario ICUs have 593 patients with COVID-related illnesses.8 in January compared with 49.4 in December.
The estimate, based on data collected from January 12-20, was the lowest reading in eight months and well below the 45 level forecast by economists polled by Reuters. It is also the third consecutive reading below 50, which indicates a majority of businesses reporting a contraction in activity.
The downturn in services, which account for about 80 per cent of the economy, drove down the composite index, an average of services and manufacturing, to 40.6 in January from 50.4 in the previous month.