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24th May 2022 18:00U.K., Daily Monitor

The PMI points to GDP flatlining in Q2, but a fall is more likely, given the plunge in government Covid spending.

The MPC shouldn't take comfort from the resilience of the employment index; it lags changes in the PMI.

Many firms still are hiking prices, but the number absorbing cost rises, due to faltering demand, is growing.

composite pmi cpi cpi inflation employment eu export orders gdp growth government input price June labour manufacturers manufacturing mpc mpc members Ofgem pmi pmi data policymakers public sector q2 recession

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Keywords for: The Sharp Decline in the PMI Makes a Pause from the MPC Even More Likely

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