UK economic growth slows as private sector stalls

British economy is still growing, but has sank to weakest point in six months

Business Post
July 24, 2023

The British economy scored 50.7 in July in a flash purchasing managers index, down sharply from 52.8 last month. Picture: Getty

Growth in the UK’s private sector stalled in July, as it fell well short of expectations in a closely followed survey.

According to the purchasing managers index, compiled by S&P Global and CIPS, the British economy is still growing, but has sank to its weakest point in six months.

It scored 50.7 in July, down sharply from 52.8 last month.

Any score over 50 on the index is positive, meaning the economy is still Although ...