Momentum in Britain's private sector slowed much more than expected this month, adding to recession worries as inflation pressures ratcheted higher, according to a business survey on Tuesday that showed rising pessimism.
S&P Global's flash Composite Purchasing Managers' Index , a monthly gauge of the services and manufacturing industries, fell to 51.8 in May from 57.6 in April, its lowest level since February last year.
"The collapse in the composite PMI in May is the clearest sign yet that demand is faltering in response to the intense squeeze on households' real disposable incomes," said Samuel Tombs, chief UK economist at Pantheon Macroeconomics. Financial markets still expect the BoE to double interest rates to at least 2% by the end of the year from 1% now.
"Companies cite increasingly cautious moods among households and business customers, linked to the cost-of-living crisis, Brexit, rising interest rates, China's lockdowns and the war in Ukraine," Williamson said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Cole Irvin sharp in his return, but Angels’ Ohtani, Trout too much for A’sA’s lose two of three in Anaheim despite some impressive work from Irvin and center fielder Cristian Pache.
Baca lebih lajut »
Ramírez homers, McKenzie sharp as Cleveland downs Astros 6-1José Ramírez homered with four RBIs and Triston McKenzie pitched seven sharp innings to help the Cleveland Guardians to a 6-1 win over the Houston Astros Monday night.
Baca lebih lajut »
Report Into Lockdown Rule Breaking in UK Govt Expected This WeekA senior civil servant is due to release her findings on “partygate,” the scandal over gatherings at Boris Johnson Downing St. residence.
Baca lebih lajut »
Clearview AI fined £7.5 million and told to delete all UK facial recognition data | EngadgetClearview AI has been fined £7.55 million by the UK's privacy watchdog for illegally scraping the facial images of UK residents..
Baca lebih lajut »
Harry Styles Eyes U.K. Singles Chart Trifecta“As It Was” leads the First Look chart, and, if it holds its momentum, it’ll own the longest streak at the summit this year.
Baca lebih lajut »
BET+ Signs UK & South African Action Thriller ‘Stolen’ Franchise By Ida Rose & ANT MediaThis UK & South African co-production with Ida Rose & ANTS Media stars team up for action thriller film Stolen directed by Sheridan De Myer. Shantelle Rochester will serve as producer along…
Baca lebih lajut »