Commenting on this morning’s UK PMI flash data, Melanie Baker, senior economist at Royal London Asset Management said:
“August was likely a relatively good month for the UK recovery, helped by policy initiatives, such as the “Eat Out to Help Out” scheme, but today’s September PMI data is consistent with slower economic growth once the scheme ended.
“Reports that the Chancellor is looking to provide continued support for workers, as the furlough scheme ends, are very welcome but any increased social distancing is likely to be a further short-term drag on growth moving into October.”
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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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