Weak UK PMI Data Suggests Second Quarter GDP Fall

4:30 AM ET Wed, 4 July 2012

"There were additional bank holidays around the Queen's Jubilee that suppressed activity in a lot of areas, it did of course boost some in relation to hotels and restaurants but the net effect was a negative one and I I don't think we should overplay that," Chris Williamson, chief economist at Markit told CNBC.