UK economy slumps into stagnation as Brexit uncertainty hits demand - business live

Time for a recap:

Britain’s services sector slowed to the brink of stagnation last month. Markit’s monthly service sector PMI dropped to just 50.1%, showing barely any growth at all.

Services bosses reported that they’ve been forced to cut headcount, after suffering weakening new business. Many blamed Brexit uncertainty for spooking clients.

Economists fear that the UK could struggle to post any meaningful growth this quarter, given that construction firms and manufacturers also found January tough.

In another sign of economic anxiety, UK car sales have fallen by 1.6% in January - although electric vehicle sales rose.

The picture isn’t any better overseas. The eurozone private sector is growing at the slowest rate since mid-2013, with France and Italy particularly weak. Growth in Ireland also slowed, while even Australia is feeling the chill.

Despite this gloom, European stock markets have risen steadily today as traders put their recent worries behind them (for the moment, anyway....)

And HMV staff have been learning whether jobs are safe, or not, after Canada’s Sunrise Records saved most of the company from collapse..