At 54.4 in June, the seasonally adjusted IHS Markit/CIPS Purchasing Managers' Index was a tick above May's downwardly revised reading of 54.3 (originally 54.4) and stands almost four points below the 51-month high reached in November last year. The average reading over quarter two as a whole (54.2) is the weakest outcome since the final quarter of 2016.
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