Largely driven by the manufacturing sector, the downturn in the UK private sector slowed in June after the record weakness seen during the height of the coronavirus lockdown, flash survey data from IHS Markit showed Tuesday.
The IHS Markit/Chartered Institute of Procurement & Supply composite output index rose to 47.6 in June from 30.0 in May. The reading was above economists' forecast of 41.0.
The latest reading was below the 50.0 no-change threshold, but signaled the slowest pace of decline since the start of the downturn in March.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.