Economy gains momentum as lockdown eases

Industry News | 23/06/20

The flatlining economy twitched back into life this month after a relaxation of lockdown rules triggered a record surge in activity. A closely watched business index from the Chartered Institute for Procurement and Supply (CIPS) recorded a reading of 47.6 for early June – up from 30 in May and close to the 50 level which signals growth. It suggests firms are now suffering a far shallower decline than at the nadir of the lockdown in April. Manufacturers, which were freed from restrictions in May, led the biggest monthly improvement since 1998 as they moved back into positive territory despite a further fall for a largely locked-down services sector.

Source: The Telegraph