Preliminary June services PMI 51.2 vs 52.9 in May (Il Sole 24 Ore Radiocor) - London, 21 Jun - In June, the UK's purchasing managers' index for the manufacturing sector rose to a 23-month high of 51.4 from 51.2 in May while that of the services sector was at a seven-month low of 51.2, down from 52.9 the earlier month, according to data released by S&P Global and the Chartered Institute of Procurement & Supply (CIPS).

The manufacturing output index was at a 26-month high of 54.2 compared to 53.4 the month earlier while the composite output index, a weighted average of services PMI and manufacturing output, was at a seven-month low of 51.7, down from 53.0.

A reading above 50 signals expanding sector activity, while one below a contraction.

'Flash PMI survey data for June signal a slowing in the pace of economic growth, indicating that GDP is now growing at a sluggish quarterly rate of just over 0.1%," said Chris Williamson, chief business economist at S&P Global Market Intelligence.

'The slowdown in part reflects uncertainty around the business environment in the lead up to the general election, with many firms seeing a hiatus in decision making pending clarity on various policies.".

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(RADIOCOR) 21-06-24 10:54:47 (0268) 5 NNNN