UK economy shows signs of bottoming out after COVID crash - PMIs
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LONDON (Reuters) - Britain's economy flattened out a bit this month from its nosedive in April, but it remains in the grip of a severe contraction caused by the coronavirus lockdown, a business survey showed on Thursday.An index measuring activity in the dominant services sector and in manufacturing rose to 28.9 in May's preliminary purchasing managers' index from 13.8 in April's final reading.IHS Markit, which publishes the data, said the pace of decline remained far worse than at any point..