UK economic recovery slows

The Staff and supplies shortages Have the latest dent in UK economic recovery This month, according to a survey. The Composite PMI (PMI) from IHS Markit / CIPS For August, it hit a six-month low of 55.3 compared to 59.2 in July. Any reading above 50 indicates growth, but the recovery from the pandemic is losing momentum, according to the researchers.

Shortages of staff and supplies are hampering recovery

group manager CIPSAnd Duncan BrockHe said the numbers were a “stark warning”. He said the “abnormally significant slowdown in public activity” indicated this exponential growth levels Seen in early summer ‘was not sustainable’. « Most wrong The worst shortage of people and materials for which there is evidence.”

“Despite the fact that Covid-19 containment measures have fallen to the lowest level since the start of the pandemic, the increase in The number of cases of the virus He is Deter many forms of spending, especially by consumers. It has affected growth through it Staff shortages and supply shortages“IHS . said the economist Marquette Chris Williamson.

“The Supplier delays It has risen to a degree that has only been exceeded once – in the early months of the pandemic – and the number of companies reporting production decreased Because of staffing or material shortages, Williamson emphasized, it was much higher than anything seen previously in the survey’s more than 20-year history.

Self-isolation delays UK economic recovery

Companies complained that the requirements autoaislamiento NS Contacts of people infected with Covid made it difficult Staff maintenance. However, as of August 13, these rules for people who have been vaccinated twice have been repealed.

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Kieran Tompkins, Associate Economist Capital Economics, he said the latest survey showed the recovery is slowing down more than previously thought. ‘The economy struggled to regain momentum in August, despite the apparent relaxation in’Pingdemia‘”, she said. This poses a “downside risk” to forecasts that the economy will return to its pre-pandemic level in October.

Factory production

On the other hand, another survey showed that the growth Factory production decreased In the three months leading up to August, but it held up historically. However, the Double stock levels Until reaching a new low for the third month in a row, according to the latest monthly survey of industrial trends in Saudi Arabia CBI. The first hints from the data indicate that Activity growth may have peaked“The chief economist at the Central Bank of Iraq said, Albesh Balekha.

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