UK business activity deteriorated sharply in May as the economy was hit by a combination of Middle East-related energy pressures and rising domestic political uncertainty. Flash UK Composite PMI Output Index plunged from 52.6 to 48.5, its lowest level in 13 months and firmly back into contraction territory. The decline was driven overwhelmingly by the […]The post UK PMI Composite Falls Into Contraction as BoE Faces “Major Quandary” appeared first on ActionForex.