Possibly led by further opening up of many global economies, PMI figures show encouraging signs, with vast decreases to the rate of contraction across industries. However, whilst many of the indices are nearing the vital 50.0 stability marker, few are showing growth.
It is encouraging to see the latest ONS survey showing an improvement in sourcing of goods from within the UK but as the virus continues to seriously affect many parts of the world which produce key materials, supply chains should be closely watched.
With several large profile and sizeable
job losses making the headlines this
week, many are eagerly awaiting an announcement on jobs support next week from the Chancellor, which was promised by Boris Johnson. The furlough scheme is set to begin tapering off in August, before coming to an end in October and supports 9.3 million workers.