The survey indicates that the dominant service industry in the united kingdom lost momentum in November, as impending employer tax increases suppressed hiring plans, though not as severely as initially feared. The final service PMI for November in the united kingdom was 50.8, down from 52.0 in October, marking the lowest level since October 2023. Employment in the service sector declined for the second consecutive month, although the pace of decline was not as pronounced as in October. Tim Moore, the head of economics at s&p global market intelligence, stated that widespread reports of concerns regarding the impacts of policies announced in the budget, particularly those that increase employment costs, have led to more pessimistic assessments of business investment prospects. The planned tax increases prompted respondents to pause investments and exacerbated concerns about weak demand. Some also mentioned worries about broader inflationary pressures over the next year.