UK private sector activity hits four-month low in July
The United Kingdom’s Flash Purchasing Managers’ Index (PMI) Composite Output Index decreased 4.5 percentage points (ppts) in July when compared to the previous month to 57.7, according to a preliminary report published by IHS Markit on Friday.
Private sector activity hit a four-month low across all sectors. The Flash Manufacturing PMI dropped 3.5 ppts month-over-month falling to 60.4. At the same time, the Flash Services PMI fell from 62.4 to 57.8, constituting a 4.6 ppt monthly decline.
Chris Williamson, Chief Business Economist at IHS Markit, commented on the results: “July saw the UK economy’s recent growth spurt stifled by the rising wave of virus infections, which subdued customer demand, disrupted supply chains and caused widespread staff shortages, and also cast a darkening shadow over the outlook.”
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