4/22, 10:31 AM (Source: TeleTrader)
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UK private sector activity declines im April

The business activity in the United Kingdom private sector worsened in April, according to a preliminary report released by S&P Global on Friday. The Flash UK Composite Output Index stood at 57.6, down from March's final figure of 60.9.

The Flash UK Services Business Activity Index fell from 62.6 in March to 58.3 in April, while the Flash UK Manufacturing PMI increased to a two-month high of 55.3.

"The survey data signal a marked cooling in the pace of UK economic growth during April, caused by an abrupt slowing in demand. Orders received by manufacturers have almost stalled, driven by an increasing loss of exports, and growth of demand for services has slumped to among the weakest since the lockdowns of early 2021," Chris Williamson, chief business economist at S&P Global, stated, adding "high prices and associated rising cost of living" were most cited as the cause of lower demand.

Baha Breaking News (BBN) / NP