UK Purchasing Managers Report Higher Inflation and Slower Growth
- Companies are pausing investment decisions ahead of election
- Price pressures may fuel BOE concerns about sticky inflation
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Britain’s private sector companies reported slower growth and stronger pressures to increase prices in the lead up to the general election, a closely watched industry survey showed.
S&P Global’s composite Purchasing Managers’ Index slipped to 51.7 in June from 53 the month before, the lowest reading since November when the nation was in a mild recession. The reading was worse than the 53 economists expected but still above the threshold of 50 that indicates expansion.