Trump announces trade deal with EU following months of negotiations
Investing.com -- British business activity expanded modestly in June, with new orders growing for the first time this year, according to a survey released Monday.
The S&P Global UK Composite Purchasing Managers’ Index (PMI), which measures private sector economic activity, rose to 50.7 in June from 50.3 in May.
This reading moved further above the 50.0 threshold that separates growth from contraction.
The June figure exceeded economists’ expectations of 50.5.
Despite the positive movement in new orders, the survey revealed that employers cut jobs at a faster rate.
Businesses also expressed concerns about the ongoing conflict in the Middle East.
The modest expansion represents a continuation of growth in the UK private sector, though the pace remains relatively subdued.
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