The preliminary composite PMI for the United Kingdom in December is 50.5, slightly above 50 but below the 50.7 forecasted by Reuters analysts. The manufacturing activity index has dropped to 47.3, the lowest level in 11 months. Although the services sector improved from 50.8 to 51.4, both industries have experienced the largest contraction in employment since the COVID-19 pandemic. Chris Williamson, the chief business economist at S&P Global Market Intelligence, stated that as 2024 approaches, stagnant economic growth, declining employment, and rising inflation are reflecting a triad of negative news for businesses. The momentum for economic growth has been lost since the strong expansion earlier this year, and businesses and households have reacted negatively to the pessimistic rhetoric and policies of the Labour Party's new government.