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U.K. services PMI contracts for the first time in two years in December, with the Business...

U.K. services PMI contracts for the first time in two years in December, with the Business Activity Index PMI falling to 48.9 from 50.2 in November. The decline "raises the likelihood that the UK economy is sliding back into recession," Markit says. "Businesses are holding back on investment, leading to falls in employment and increased levels of spare capacity," adds the Chartered Institute of Purchasing & Supply. (PR)
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