Services and Industry Increased in June but Political Uncertainty Already Poses a Risk

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The private sector economy expanded in June driven by the manufacturing and services sector, however, political uncertainty poses risks to economic prospects, as Jonas Feldhusen, an economist at Hamburg Commercial Bank, advances.Despite this growth in the composite PMI index – up to 52.1 points, compared to 51.4 points – the private sector slowed its growth due to a fall in new orders, for the first time in more than a year and a half.This lower…

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Private activity remains expansive, driven by services and manufacturing, but S&P analysts warn of increased risks in the medium term due to uncertainty. Read