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Rapid downturn in UK private sector output continues in May, but the speed of decline eases since April
UK private sector output remained on a steep downward trajectory in May, according to the latest IHS Markit / CIPS Flash UK Composite PMI® survey. The rate of decline in overall business activity eased since April, but was much faster than at any other time since comparable data were first compiled in January 1998. The headline seasonally adjusted IHS Markit / CIPS Flash UK Composite Output Index – which is based on approximately 85% of usual monthly replies – registered 28.9 in May, to remain well below the crucial 50.0 no-change threshold. Although the index was up from 13.8 in April, the latest reading still ... (full story)