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UK economy set for return to growth

IHS Markit’s flash purchasing managers’ index (PMI) has shown that the UK’s economic output reached a measure of 47.6 in June, up from 30 in May and close to the 50 level which signals growth. Chief business economist Chris Williamson commented: “June’s PMI data add to signs that the economy looks likely return to growth in the third quarter, especially given the further planned easing of the lockdown from 4 July.” He went on: “June saw a record rise in the PMI for a second successive month, confirming that the economy is moving closer to stabilising after the worst of the immediate economic impact from the COVID-19 pandemic was felt back in April.”

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