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Oil hits five-month high as global stocks wobble on AI fears; retail sales in Great Britain fall as shoppers cut back - business live
Rolling coverage of the latest economic and financial news Rob Wood , chief UK economist at Pantheon Macroeconomics, says the biggest news is from S&P’s PMI data is the composite employment index rising above 50 for the first time since the 2024 budget. He said: The jobs balance rose to 50.5 from 48.9 in September, consistent with a 9K month-to-month payrolls gain in October. Solid growth is helping, probably alongside an easing drag from the payroll-tax hike. …The steady recovery in jobs growth further undermines any case for waiting to hike rates. A November rate hike is a shoo-in, and we ex
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