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UK economy stumbles as consumers, firms brace for downturn

Britain's economy is losing steam as households face a tightening cost-of-living squeeze, according to data published on Friday which showed sliding retail sales and consumer confidence approaching all-time lows.

UK economy stumbles as consumers, firms brace for downturn
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The pound slid by more than a cent to fall below $1.29 for the first time since November 2020 after official data and surveys of consumers and businesses pointed a sharp growth slowdown, or worse, in the coming months.

Read more at Reuters

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