Mumbai, June 23 -- The latest Flash PMI data from S&P Global showed that UK private sector activity contracted for the second straight month in June, as weakness in the services sector outweighed continued growth in manufacturing output.
The S&P Global Flash UK PMI Composite Output Index fell to 49.4 in June from 49.7 in May, remaining below the 50.0 no-change mark and signalling a marginal decline in overall business activity.
The downturn was largely driven by the services sector, where higher costs and weaker customer confidence weighed on activity. Businesses linked these challenges to the conflict in the Middle East and domestic political uncertainty. The decline in services activity was the joint-sharpest since the beginning of 2021...