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Economic update: Summer rebound but gloomier winter ahead

There are some indications that the summer momentum began to ease in September. For example, the IHS Markit Purchasing Managers’ Index showed growth in business activity slowed in September. This was particularly the case in the services sector. In addition, card and bank payments data collected by Fable Data point to consumer spending slowing over the course of September, following strong increases in July and August. ​ *The House of Commons Library does not operate as a press outlet, but as an impartial research and information service based in UK Parliament.


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