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UK business activity slowdown eases, according to data | Malay Mail

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LONDON, June 23 — Britain’s private sector economic activity shrank in June but the pace of decline slowed significantly from May as the country eased its coronavirus lockdown, a closely watched survey  showed today. The composite purchasing managers’ index (PMI) hit a four-month peak at...

People queue outside of an Aldi store, as the spread of the coronavirus disease continues in London March 19, 2020. — Reuters pic

The composite purchasing managers’ index hit a four-month peak at 47.6 points in June from 30 in May, compilers IHS Markit and the Chartered Institute of Procurement and Supply said in a statement.Markit added that the manufacturing PMI stood at 50.1 points in June to register marginal expansion. He cautioned however that longer term recovery prospects remain “highly uncertain” with weak demand, despite rising confidence and easing restrictions.

“Many Covid-19 restrictions and social distancing measures will also need to stay in place until an effective treatment or vaccine is available.”

 

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