The fall marks the largest contraction in business activity since the start of 2021 when pandemic lockdowns restricted economic activity. Photo: John Keeble/GettyThe UK service sector witnessed the steepest drop in business activity since January 2021 as political and economic uncertainty hit demand in October. The fall marks the largest contraction in business activity since the start of 2021 when pandemic lockdowns restricted economic activity. Manufacturing production fell at a much faster pace than service sector activity,"Story continuesThe uncertainty caused by price inflation sent business confidence sharply down compared to September. Moore said: "Stubbornly high inflation, increased borrowing costs and worries about the UK economic outlook all contributed to weaker business optimism in October.
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