Factors in the activity of the British economy at a fifteen-month low

By: Trademagazin editor Date: 2022. 05. 24. 11:02

According to preliminary May activity indicators released on Tuesday, the pace of the UK economy’s recovery has slowed to an all-time low of fifteen months, mainly due to soaring inflation and pressure on demand from geopolitical uncertainties stemming from the war in Ukraine.

Seasonally adjusted composite purchasing managers’ index (PMI) for the UK manufacturing and services sectors in May, ) fell to 51.8 from 58.2 in April, according to a joint survey by the S&P Global Financial and Economic Reporting Group and the Chartered Institute for Procurement & Supply (CIPS. (MTI)