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Evening Standard

Business

Jonathan Prynn

Recession fears grow and interest rate expectations decline after surprise slump in output

Recession Bank of England City

Recession fears stalked the City again today as a key business survey painted a grim picture of the strains in the economy this month.

The preliminary or “flash” version of the closely watched S&P Global/CIPS private sector output index fell far more steeply than expected by forecasters from 50.8 In July to 47.9 this month.

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