Home / World News / Covid-19 impact: UK job losses accelerate in August, PMI shows

Covid-19 impact: UK job losses accelerate in August, PMI shows

The IHS Markit/CIPS Composite Purchasing Managers' Index (PMI), a monthly gauge of activity in services and manufacturing companies, rose to a six-year high of 59.1 from 57.0 in July

layoffs, job loss, lay-offs, unemployment

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The survey's index of employment declined for the first time in three months - chiming with widespread reports of layoffs from major employers grappling with the hit from the pandemic

Reuters London

2 min read Last Updated : Sep 04 2020 | 2:07 AM IST

Job losses at British companies accelerated in August despite an upturn in demand, a survey showed on Thursday, in a bleak sign ahead of the closure of the government's coronavirus furlough scheme at the end of next month.

The IHS Markit/CIPS Composite Purchasing Managers' Index (PMI), a monthly gauge of activity in services and manufacturing companies, rose to a six-year high of 59.1 from 57.0 in July.

Still, that was revised down from a preliminary "flash" reading of 60.3, hinting at a weaker end to activity last month.

Some economists view the current strength of the PMI

Topics : Coronavirus UK Britain

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