UK private sector activity hits 11-month low in October, sparking reduced business confidence and employment decline.

In October, UK private sector activity fell to its lowest level in 11 months, with the S&P Global composite PMI dropping to 51.7 from 52.6 in September. This decline, attributed to uncertainty ahead of the Autumn Budget and pessimistic government rhetoric, led to reduced business confidence and the first decrease in employment this year. Meanwhile, inflation eased to a four-year low, potentially influencing the Bank of England's interest rate decisions.