S&P Global/CIPS Flash PMIs (Aug.)

With the latest surge in wholesale gas prices set to intensify the cost of living crisis, it is probably only a matter of time before the activity PMIs start ringing the recession alarm bell. We think the economy is already in recession, but that surging CPI inflation will force the Bank of England to continue raising interest rates from 1.75% now to 3.00% next year.

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