India, May 22 -- The UK private sector activity deteriorated for the second straight month in May, though marginally, flash survey data from S&P Global revealed on Friday.
The flash composite output index rose to 49.4 in May from 48.5 in April. The expected score was 49.3. However, any reading below 50 indicates contraction in the sector.
A frictional rise in service sector activity helped to offset the fastest downturn in manufacturing production since October 2023, the survey said.
The overall reduced levels of business activity were mostly attributed to subdued order books and caution among clients amid rising business uncertainty.
New orders received by the British private sector fell at the fastest pace in two-and-a-half years, lin...