Snapshot of the economy in 10-day period to 21 July prompts concerns that recovery is stalling
Britain’s recovery from its winter lockdown has slowed sharply as businesses struggle with weakening consumer demand and Covid-related shortages of materials and workers, the latest snapshot of the economy has found.
The closely watched update from IHS Markit and the Cips reported growth at its slowest since March amid wide-ranging staff shortages against a backdrop of rising Covid cases and as thousands of workers isolate owing to the so-called “pingdemic”. The survey also highlighted a new mood of caution among the public triggered by the rapidly rising infection rates.
