US flash PMI surveys signal economic malaise extending into June

The flash PMIs for June paint a disappointing picture of the underlying health of the US economy at the end of the second quarter.

US Fed keeps policy on hold

As expected, the US Fed kept policy on hold at its June meeting, worried about signs of a weakening labour market in particular.

UK retailers enjoy spring surge in sales

UK retail sales surged higher in May in a sign that consumer spending continues to boost the economy.

Global all-industry output loses growth momentum amid slowdowns in manufacturing and services

Although the global economy remained in expansion mode during May, a subdued trend in output growth prevailed, with the rate of expansion being among the slowest in over three-and-a-half years. Sector data highlighted intermediate goods as the weakest link in manufacturing, where a renewed slump in production was recorded to suggest that other manufacturers were pulling back on their purchases of components. In services, the overall slowdown was reflective of stagnant activity at consumer-facing service providers.

UK unemployment falls to lowest in over a decade, but job creation slows

News of better than expected health of the labour market in April suggests that employment is holding up despite signs that the economy is in the midst of a soft patch.

UK construction upturn in April belies weakening building sector trend

As with the better than expected official manufacturing data for April, official construction data paint a brighter picture of the economy at the start of the second quarter than the business surveys. But dig deeper and there's good reason to treat the better news with caution. The underlying trend in fact appears to be one of weakening output, albeit to some extent due to what will hopefully be temporary uncertainty surrounding the EU referendum.

Nigeria PMI signals renewed downturn as recession looms

Recent data releases suggest that Nigeria is at risk of sliding into recession. After GDP figures published last month showed that the economy had contracted over the first quarter, the Stanbic IBTC Bank PMI signalled a downturn for the third time in four months during May. With inflation, currency weakness and fuel shortages all depressing the economy, Nigeria looks unlikely to escape recession in the second quarter.

UK factory output surges in April, but surveys cast doubt on sector's resilience

The UK manufacturing sector enjoyed its strongest expansion since July 2012 at the start of the second quarter, according to the Office for National Statistics, but any sparkle looks to be short-lived.

Global economic growth falters in May

Global economic growth stumbled in May, according to PMI data, suggesting the weak start to the year has persisted into Q2. The JPMorgan Global PMI, compiled by Markit from its worldwide surveys, fell from 51.6 in April to 51.1, its second-lowest reading since the end of 2012. Emerging markets once again led the slowdown, with the PMI signalling a return to slight contraction after two months of marginal growth. Developed world growth also remained firmly in the doldrums in May, having slowed to the second-lowest in just over three years.

UK 'Brexit' uncertainty hurting over one-in-three companies

More than one-in-three companies report that uncertainty over the outcome of the EU referendum is having a detrimental effect on their business. One-in-twelve firms report a strongly detrimental impact.

Global economic growth falters in May

Global economic growth stumbled in May, according to PMI data, suggesting the weak start to the year has persisted into the second quarter. While emerging markets continue to languish, the developed world remains stuck in the lower gear it downshifted into back in February. The survey data highlight slowing second quarter growth in the US and UK, a still-sluggish Eurozone expansion and a renewed downturn in Japan.

US labour market gloom adds to PMI signal of second quarter malaise

A sharp slowing in the pace of hiring in the US, and an all-round gloomy employment report for May, raises serious doubts about whether the Fed will vote to hike interest rates again in the summer.

Chinese factory job cull continues as manufacturing activity stumbles in May

Manufacturing operating conditions in China deteriorated at the fastest rate for three months in May, reflecting a renewed fall in new orders, declining output, destocking and ongoing job losses. Price pressures meanwhile persisted, largely on the back of rising global commodity prices.

Asian manufacturing downturn extends into May as export trend deteriorates

The Asian manufacturing downturn persisted into its fifteenth consecutive month in May, with the rate of decline accelerating slightly to the fastest since February. Markit's manufacturing PMI surveys, compiled on behalf of Caixin in China and Nikkei across seven other Asian economies, recorded a pan-Asian PMI of 49.0 in May, down from 49.2 in April.