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Will the Eurozone enter a recession before the UK?


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The UK adjusted S&P Global/CIPS Manufacturing Purchasing Managers’ Index (PMI) slipped to 52.2 in July compared to an anticipated 52.0. Any figure above 50.0 indicates growth.

While business activity at UK private companies rose for the seventeenth month “the rate of expansion was the weakest over this period,”

Picking through the numbers the July data showed a further slowdown in prices against inflation at private sector companies – the least marked since January, “reflecting some efforts to moderate price increases in the wake of softer customer demand”, the survey says.

Input costs have "eased considerably" to a, in fact, 10-month low – that's a major piece of good news.

Overall, the July UK PMI numbers are in line with analyst predictions and outperformed, most significantly, the EU says Capital analyst Piero Cingari.

The eurozone equivalent fell from 52.0 in June to 49.4 in July – which means the region has crossed the economic 50.0 shadowline or ‘bust’ ahead of the UK.

A dismal reading.



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