IHS Markit/CIPS Flash PMIs (Jun.)

The fall in the flash composite PMI from a record high of 62.9 in May to 61.7 in June indicates that the pace of the recovery may have peaked. That suggests the monthly rises in GDP will ease back from the 2.3% m/m gain recorded in April. Nonetheless, the level of GDP will continue to climb towards and beyond pre-pandemic levels.

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