Branch2 Intelligence
Britain's economy losing speed as services shrink
Key takeaway
UK services PMI fell to 48.8 in June, signalling contraction and economic slowdown.
- Step 11st-order: UK services PMI falls to 48.8, confirming contraction in the dominant sector.
- Step 22nd-order: Weaker demand reduces SME order books and revenue, especially in discretionary services.
- Step 33rd-order: BoE likely to cut rates sooner to support growth, lowering SME financing costs but signalling economic weakness.
Source: This is Money
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