UK growth slips to 11-month low as Covid weighs down economy

UK growth slips to 11-month low as Covid weighs down economy
UK growth slips to 11-month low as Covid weighs down economy
UK growth slips to 11-month low as Covid cases weigh down the economy and inflation surges Closely-watched PMI index has slipped to an 11-month low as UK economy stalls The reading for January is 53.4 with anything above 50 representing growth Warnings that Covid is weighing down business and prices are set to rise more  

View
comments

UK growth has slipped to an 11-month low as Covid cases weigh down the economy and inflation surges.

The closely-watched IHS Markit/CIPS index came in at 53.4 this month, the worst since restrictions started being eased last year. 

Although anything above 50 represents growth, grim performance in the hospitality, leisure and travel sectors have been offset by a better showing for manufacturing and financial services. 

Experts have also warned that businesses are under huge pressure from energy price rises and staff costs, and will be forced to pass the burden on to consumers.  

The flash PMI reading reflected a further slowdown following the 53.6 for December.

The closely-watched IHS Markit/CIPS index came in at 53.4 this month, the worst since restrictions started being eased last spring

The closely-watched IHS Markit/CIPS index came in at 53.4 this month, the worst since restrictions started being eased last spring

read more from dailymail.....

NEXT Tragic watch dealer found dead at his parents' home 24 hours after he was ... trends now