Economics
U.K. Economy Weakens at a Slower Pace in Lighter Lockdown
- Composite PMI at 47.7, slightly better than flash estimate
- Lockdown measures continued to hold back travel and leisure
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The U.K. economic slump showed signs of easing in June as parts of the coronavirus lockdown were lifted, allowing more people to return to work.
IHS Markit’s composite Purchasing Managers Index climbed to 47.7 from 30 in May. That’s slightly better than the flash estimate, but still below the 50 mark that separates expansion from contraction.