UK Business Activity Contracts

Note: This section contains information in English only.
Source: Dukascopy Bank SA
UK business activity hit its lowest point since early 2021, with the S&P Global PMI falling to 48.5 in May as surging energy costs from the Iran war and domestic political uncertainty triggered a services sector slump. Economists warn the economy faces a perfect storm of contraction and rising inflation, leaving the Bank of England in a difficult position as it weighs rate hikes against recession risks.
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