Commenting on the latest UK purchasing managers index business survey figures, Melanie Baker, senior economist at Royal London Asset Management, said:
“Today’s figures point to an increasingly challenging period for UK businesses. With more evidence today that uncertainty is damaging growth, a modest rate cut from the Bank of England in coming months is looking more likely.
“Survey responses continue to underline that Brexit-related worries are weighing on sentiment and activity. Alongside any concerns around global trade and growth prospects, such worries seem more likely to linger than disappear in the near-term.”
About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £139 billion of assets and employs 113 investment professionals as at end July 2020. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
For professional clients only, not suitable for retail investors.
Issued by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.
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