UK edges towards recession as service sector sinks

Surprise contraction as British firms face sliding sales, higher costs, job losses and disruptive BrexitBritain has edged closer to its first recession since the financial crisis after the dominant service sector unexpectedly plunged into contraction last month.The sector, which includes restaurants, hotels and finance, accounts for about 80% of the economy. According to IHS Markit and the Chartered Institute of Procurement and Supply (Cips), activity fell as companies faced sliding sales, job l