IHS Markit UK Composite PMI fell to 57.7 in July
The UK’s private sector growth is at its lowest point in four months, according to a survey by IHS Markit, which drags staff shortages into the economic recovery this month.
A phenomenon known as “pindemic” has been warned by NHS testing and tracing apps, causing many healthy workers to be isolated from home. The company reported to IHS Markit that “pindemic” is causing shortages of materials and staff, and is the slowest recovery since March.
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The momentum of stagnation has led to a level of optimism dropping to its lowest level in more than nine months.
The IHS Markit UK Composite PMI fell to 57.7 in July, down from 62.2 the previous month, representing a major fall. Measures above 50 indicate an expansion in business activity.
Chris Williamson, chief business economist at IHS Markit, commented on the numbers released by IHS Markit on Friday. There is a shortage of staff and casts a dark shadow over the outlook. ”
“Business activities continue to grow and have been supported by relaxing the lowest lockdown restrictions since the pandemic began, but the expansion rate has been at its weakest since March.”
“Transportation, hospitality and other consumer services companies have been hit hardest, but manufacturing has also weakened significantly over the course of the month,” Williamson said.
