British companies buckled in April under the strain of an escalating global trade war that threatens to tip the economy into a new downturn, a survey has shown.
The S&P Global Composite Purchasing Managers’ Index (PMI), a gauge of the private sector economy, slid to 48.2 in April from 51.5 in March.
This marked the lowest reading since November 2022 when businesses were wracked by surging energy costs and financial
