Britain's services and manufacturing firms are falling deeper into an economic slump, according to a closely-watched survey
Britain's services and manufacturing firms are falling deeper into an economic slump, according to a closely-watched survey.
Data for the survey was taken between 12 and 27 March, covering the period after Prime Minister Boris Johnson ordered the shutdown.People were told to stay home unless they were exercising, shopping for essentials or doing essential work that could not be done from home.The services sector - which covers a range of businesses from law firms and accountants to travel agents and restaurants - represents 80% of UK economic output.
The final composite Purchasing Managers' Index covering services and manufacturing fell to 36.0, down from 53.0 in February.Tim Moore, economics director at IHS Markit, said:"There were numerous reports from survey respondents that placing staff on furlough had helped to mitigate more widespread job losses in March.
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