UK PMIs: Optimism On Business Outlook Sinks

The first paragraph of the UK PMI report really says it all and makes reference to the widespread worker shortages caused by NHS pings, which have led to pressure on the government to try and find a workable solution: "July PMI data compiled by IHS Markit and CIPS signalled a sharp slowdown in business activity growth across the UK private sector. The speed of recovery was the weakest since March, with survey respondents widely reporting staff and raw material shortages due to the pandemic. Concerns about the loss of momentum contributed to the lowest degree of optimism towards the business outlook for nine months." All four major readings in the PMI report are at four-month lows