UK private sector firms signalled another reduction in business activity during November, which stretched the current period of decline to four months. New orders meanwhile decreased at the fastest pace for almost two years as squeezed client budgets continued to hit demand in both the manufacturing and service sectors. On a more positive note, business expectations for the year ahead rebounded from the 30-month low seen in October. Many survey respondents commented on recession worries and increasingly challenging economic conditions, but there were fewer comments citing domestic political uncertainty. The headline ... (full story)