David McNamara: Has the spring tide receded for the global economy?
The UK's prime minister in waiting Keri Starmer? A decisive result and period of political stability in the UK post-election could be supportive of the economy. Picture: Stefan Rousseau/PA
As we move into high summer, the latest macro data suggest global economies may have lost some momentum of late, following an uptick in activity in the spring. If this trend persists, it will bring central banks' rate-cutting plans into sharper focus, particularly for European economies which have seen anaemic growth in recent times.
The June PMI surveys released at the end of last week point to slowing growth momentum across the key economies, including the eurozone and the UK, with the manufacturing sector, in particular, moving back into contraction territory in many regions.
