UK private sector output slows down in June - Breaking The News

UK private sector output slows down in June

21 June

1 min read

EPA/ANDY RAIN

The United Kingdom Flash PMI Composite Output Index came in at 51.7 in June, falling 1.3 points compared to May, reaching its lowest level in seven months, and signaling a "slower and modest increase" in business activity in the second quarter of 2024, S&P Global revealed on Friday in a preliminary report.

Meanwhile, the Flash Services PMI Business Activity Index in June dropped 1.7 points to 51.2 month-to-month. The Flash Manufacturing PMI rose monthly by 0.2 points to 51.4, hitting a 23-month high.

"Flash PMI survey data for June signal a slowing in the pace of economic growth, indicating that GDP is now growing at a sluggish quarterly rate of just over 0.1%. The slowdown in part reflects uncertainty around the business environment in the lead up to the general election, with many firms seeing a hiatus in decision-making pending clarity on various policies," S&P Global Market Intelligence Chief Business Economist Chris Williamson said.

data pmi composite composite pmi

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