Economics
JPMorgan Cuts U.K. Outlook as Recovery Looks Past Its Peak
- Composite PMI declined to a four-month low in October
- Falling confidence suggest consumer spending may weaken
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The U.K.’s recovery already looks well past its peak, putting the economy on a shaky footing as it enters a winter of stricter restrictions to control the coronavirus.
The worrying outlook prompted JPMorgan Chase to almost halve its forecast for fourth-quarter growth on Friday, with the bank expecting regional lockdowns to have a wider impact on sentiment across the country.