PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers
- Sign up to see last 24 hours
Dont have an account?Sign up here
The services sector shrank for the first time in two years in December, raising new fears of a 'triple-dip' recession.
Markit's PMI survey found that the services index fell from 50.2 in November to 48.9 in December - any figure below 50 is considered a contraction.
Meanwhile output fell 0.2% in the final quarter of last year.
"The first fall in service sector activity for two years raises the likelihood that the UK economy is sliding back into recession," said Markit's chief economist Chris Williamson.
Full access for £22 a month...PoliticsHome PRO Find out more
Summaries and transcripts from TV and radio
1 hour ago on World at One, BBC Radio 4
1 hour ago on Daily Politics, BBC Two
1 hour ago on BBC News
1 hour ago
19 minutes ago
2 hours ago