Reuters
LONDON (Reuters) -Momentum in Britain's private sector slowed much more than expected this month, adding to recession worries as inflation pressures ratcheted higher, according to a business survey on Tuesday that showed rising pessimism. "The collapse in the composite PMI in May is the clearest sign yet that demand is faltering in response to the intense squeeze on households' real disposable incomes," said Samuel Tombs, chief UK economist at Pantheon Macroeconomics. May's survey of British retailers by the Confederation of British Industry, also released on Tuesday, showed sales holding up at normal for the time of year, after a big slump in April.