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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

UK firms cutting staff at fastest pace since February as economy struggles

ING Economy United Kingdom Donald Trump Inflation United States
Commuters battle strong winds on London Bridge, with Tower Bridge in the background
The flash S&P Global PMI, which covers the services and manufacturing sectors, dropped from 52 to 51 in July. A figure above 50 indicates expansion. Photograph: Victoria Jones/PA

UK businesses are cutting jobs at the fastest pace since February in response to higher taxes and global uncertainty caused by Donald Trump’s tariff threats, according to a closely watched survey of the private sector.

The flash S&P Global purchasing managers’ index (PMI) for July showed a decline in fresh orders, hitting jobs and dragging down growth.

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