Britain's economy to stall due to high inflation and business concerns, indicating signs of recession

Posted on June 27, 2022   |  

• The monthly overall business activity across the services and manufacturing sectors was unchanged on the 15-month low of 53.1 reached in May but a reading beyond 50 means private sector activity is growing while a reading below 50 points to a reduction.
• In the UK, the combined measure of services and manufacturing dropped from 54.8 to 51.9 in June. 
• Manufacturers are facing declining orders but exports, and the service sector is seeing signs of growth from curbed pandemic demand move into reverse amid the rising cost of living.