Spring tide receding for the global economy?
by AIB Treasury Economic Research Unit
- As we move through the summer, the latest macro data suggest global economies may have lost some momentum of late, following an uptick in activity in the spring.
- The June flash PMI surveys point to slowing growth momentum across the key economies, including the Eurozone and UK, with the manufacturing sector, in particular, moving back into contraction territory in many regions.
- The UK economy has been a relative outperformer of late, but its PMIs also signalled slower growth in June, with the Composite Index falling to a 7-month low.
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