Business activity growth in England slowed to a nine-month low in June according to lloyds Bank

July 10, 2017

Press release today from Lloyds Bank headlines ‘England sees economy lose growth momentum at end of second quarter’.

According to Lloyds: Business activity growth in England slowed to a nine-month low in June, while Wales saw its fastest rise since February, according to the latest Lloyds Bank Regional Purchasing Managers’ Index (PMI).

England’s business activity index fell to 54.3 in June, down from May’s 55.1 and its lowest reading since September last year. However, a strong performance in April meant that average growth over the second quarter was slightly faster than in quarter one.

Tim Hinton, Managing Director and Head of Mid-Markets and SME Banking, Lloyds Banking Group said: “Given the backdrop of political uncertainty, the start of EU negotiations and squeezed household budgets, it’s not entirely surprising to see that business activity growth slowed in June.

“Despite this monthly loss in momentum average growth in the second quarter was higher than the first quarter and employment rose across all UK regions. Businesses’ cost pressures have also come down significantly since the start of the year.”

Read the news release 10th July in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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