UK economic recovery loses momentum even before new Covid curbs

Cips/Markit estimates show outlook for business is at its weakest since May

The UK’s recovery from the Covid-19 lockdown was losing momentum even before the announcement of new restrictions to control the spread of the virus, the latest snapshot of the economy has found.

The closely watched monthly estimates from Cips/Markit found the level of activity at its lowest since June, the outlook for business at its weakest since May and jobs being shed at a rapid rate.

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