UK economy stalls with 50,000 job losses ahead of Autumn Budget

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UK economy stalls with 50,000 job losses ahead of Autumn BudgetRachel Reeves faces a “litany of worries” ahead of the Budget. The UK economy was hit by a “litany of worrying news” in the three months to September with thousands of jobs lost ahead of Rachel Reeves’ second Autumn Budget. “Around 50,000 job losses were signalled by the PMI in the three months to September,” Chris Williamson, chief business economist at S&P said. He added: “Alarm bells should be ringing that the economy is faltering”. Economy woes spell bad news for ReevesThomas Pugh, chief economist at RSM UK said the flash PMI was “more bad news for Rachel Reeves”.