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.

British economic activity plunges to 15-year low

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)