According to S&P Global, the private sector activity growth in the UK has slowed for the second consecutive month, highlighting uncertainty and dampening investment decisions ahead of Labour's first budget.
Labour's upcoming budget is seen as essential to address a £22bn hole in public finances, with expectations for tax rises aimed at encouraging business investment and fostering economic growth.
Despite the slowdown, the private sector has experienced its 11th consecutive month of growth with an optimistic outlook for new orders, indicating resilience among businesses despite external pressures.
Inflation trends suggest a moderation, as companies' price rises have slowed to the lowest rate since February 2021, reflecting changing market conditions and consumer demand.
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