UK economy faces contraction as private sector activity hits 14-month low (opens original article in a new tab)

UK private sector activity declined to a 14-month low in June, with the services sector experiencing its weakest performance in three years, while manufacturing saw temporary growth due to stockpiling concerns.

• UK private sector activity hits 14-month low with PMI at 49.4 in June
• Services sector records weakest performance in three years with PMI of 48.7
• Manufacturing output sees temporary increase due to stockpiling but new orders hit six-month low
• Prices paid by businesses remain elevated despite slight moderation
• Valence:-1
• tldr':'UK private sector activity declined to a 14-month low in June, with the services sector experiencing its weakest performance in three years, while manufacturing saw temporary growth due to stockpiling concerns.