HomeForex UpdatesUK PMI composite unchanged at 53.1, troubling mixture of recession and inflation...

UK PMI composite unchanged at 53.1, troubling mixture of recession and inflation into H2

UK PMI Manufacturing dropped from 54.6 to 53.4 in June, under expectation of 53.8. That’s the bottom stage in 23 months. PMI Providers was unchanged at 53.4, above expectation of 53.0. PMI Composite was unchanged at 53.1.

Chris Williamson, Chief Enterprise Economist at S&P World Market Intelligence mentioned: “The weak spot of the broad circulation of financial information to date within the second quarter factors to a drop in GDP which the forward-looking PMI numbers counsel will collect momentum within the third quarter. Whereas there are some indicators that the inflation may quickly peak, the survey information counsel the speed of inflation will in the meantime stay traditionally excessive for a while to return, indicating that the UK seems to be set for a troubling mixture of recession and elevated inflation as we transfer into the second half of the 12 months.”

Full report in PDF.

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