UK Flash PMI survey data for May signalled a further expansion of business activity halfway through the second quarter, suggesting the economy continues to recover from the mild recession seen late last year.
GDP looks likely to rise by around 0.3% so far in the second quarter, with an encouraging revival of manufacturing accompanied by sustained, but slower, service sector growth.
The slower rates of price and cost growth signalled by the May flash PMI will be of particularly welcome news to policymakers seeking to reduce interest rates.
Maksim Labkouski
Flash PMI survey data for May signalled a further expansion of business activity halfway through the second quarter, suggesting the economy continues to recover from the mild recession seen late last year. GDP looks likely to rise by around
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