The UK economy faces an increased risk of falling into a recession as firms and households buckle under the fastest inflation rate in four decades, according to a closely watched survey of British companies. S&P Global’s index of private sector growth unexpectedly collapsed in May to levels last seen in February 2021, when the nation was still in the grip of a coronavirus lockdown, the firm said Tuesday. The speed of the slowdown was the fourth-largest on record and worse than anything seen before the pandemic hit. The pound slid by as much as 0.7% to $1.2504 after the report, while traders also curbed bets on Bank of England interest-rate hikes. The survey shows the devastating impact that surging prices are having on the economy and will likely heap pressure on the government to do more to […]