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25th Apr 2022 18:00U.K., Daily Monitor

The composite PMI points to solid quarter-on-quarter GDP growth of 0.7% in Q2, despite falling in April.

The PMI, however, likely is too upbeat; it excludes government expenditure and retail sales, which are falling.

It might also be too strong when turnover is being lifted by price rises; we still expect GDP to drop in Q2.

bank rate businesses composite pmi consumers covid-19 cpi cpi inflation economy employment eurozone export orders exporters gdp gdp growth growth healthcare index inflation June manufacturing March markets mpc new export orders new orders new orders index October orders pmi pmis price increases public spending q2 q2 gdp remain retail retail sales survey

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