UK economy heading for double-dip recession as summer recovery stalls

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Latest figures heap pressure on Bank of England to inject more cash into the economy

The British economy is on course for a double-dip recession this winter, according to data showing growth slowing down in the UK’s dominant services sector last month.

The latest IHS Markit/Cips monthly survey of the services sector, which accounts for three quarters of economic activity, showed that a recovery over the summer stalled in October, heaping further pressure on the Bank of England to boost its stimulus programme when officials meet later this week.

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