FLGB - U.K. Flash PMI Signals Further Economic Slowdown At End Of Second Quarter Price Rises Intensify

2024-06-24 05:53:00 ET

Summary

• Flash PMI survey data for June signalled a slowing in the pace of economic growth, indicating that GDP will have risen in the second quarter at less than half the 0.6% pace recorded by the Office for National Statistics in the first three months of the year.
• Although business activity continued to rise for an eighth successive month in June, according to early PMI survey data, the rate of growth slowed further from April's 12-month high to sit at a seven-month low.
• The latest PMI data sends some conflicting signals to policymakers. On one hand, the cooler rate of expansion recorded in June suggests that restrictive monetary policy is dampening demand, which should in turn feed through to lower inflationary pressures.

Flash PMI survey data for June signalled a slowing in the pace of economic growth, indicating that GDP will have risen in the second quarter at less than half the 0.6% pace recorded by the Office for National Statistics in the first three months of the year....

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