Economic Buzz: UK Composite Output Index Unchanged At 53.1 In June

23 Jun 2022 , 04:21 PM

At 53.1 in June, the headline seasonally adjusted S&P Global / CIPS Flash UK Composite Output Index was unchanged from the reading in May and posted above the neutral 50.0 value for the sixteenth consecutive month. However, the index was the joint-lowest seen over this period and much weaker than the average in the first quarter of 2022 (58.3). June data indicated that output growth across the UK private sector was unchanged from the 15-month low seen in May. Resilient business activity trends were seen across the service economy as a whole, but manufacturing production growth eased further to its lowest since February 2021. Demand conditions remained subdued in June, with new order growth slowing for the fourth month running and to a greater extent than seen during May.Powered by Commodity Insights