UK PMI for April a Record Low: Grocery Sales Boom But No-one Is Buying Cars
The coronavirus pandemic and the subsequent economic impact continue to dominate the financial news around the planet. In the UK, April’s PMI collapsed and virtually no cars are being sold, but supermarkets are continuing to boom.
The PMI figures for April released by Markit show a dramatic drop from March. The composite figures showing all private sector activity nose-dived from a poor 36 in March to a disastrous 13.8 in April.