UK economy ‘running on empty’ as high inflation threatens recession, and drives up borrowing costs – as it happened

UK business confidence falls to levels that signal a recession, as new orders growth weakens

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• UK running on empty', PMI survey shows
• Eurozone economy slowing this month
• Inflation drove up UK debt repayment costs

Private sector growth in both Germany and France has slowed sharply this month, which will fuel concerns that Europe's economy is faltering.

In France, growth has slumped to its weakest since the peak Omicron disruption at start of 2022, the latest survey of purchasing managers shows.