Signs of July slowdown hint at a hit-and-miss economic recovery

In Harlow, a bounce-back in June is now petering out for some traders – and fears are still growing over jobs

It appeared from business surveys last week that Britain’s private sector was surging back to life. But on the streets of Harlow, Essex, opinions about the state of the post-lockdown economy are mixed.

Nel Amodei, 46, is trying to rebuild trade at her fledgling coffee shop in Harlow’s old town, Nel’s, launched 10 weeks before the UK closed down in March – and said things were still not normal.

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'The masks are everywhere today' – England's shoppers finally cover up

A week ago few would have worn a face covering, on Friday most shoppers in Devizes or Stratford followed the rules

Earlier this week, the sight of a person shopping in a mask in the Wiltshire market town of Devizes was an unusual one.

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Dyson to cut 600 jobs in UK as firm blames Covid-19

Job losses are part of 900 set to go across the engineering company’s workforce worldwide

Dyson is to cut 900 jobs in a cost-cutting exercise that will result in its UK workforce bearing the brunt of the pain at the engineering firm founded by Britain’s richest man.

Staff were told of the job losses during a live video conference with chief executive Roland Krüger, who blamed the decision on the coronavirus pandemic.

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US dollar weakens as gold and silver soar – as it happened

Rolling coverage of the latest economic and financial news

4.56pm BST

And finally, European stock markets have closed in the red.

The FTSE 100 lost 1%, or 62 points, to 6207 points. France’s CAC shed 1.3%, with Spain down 1.5%.

Recently, the relationship between the two largest economies in the world has been strained because the Chinese government is eroding Hong Kong’s autonomy, and that has attracted the anger of many countries.

Dealers are fearful that today’s development could spark a new escalation in tensions. President Trump has an election to contest in a few months, so he might not be overly aggressive with China for that reason.

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