United Kingdom Markit Services PMI
|Latest Release:||03-12-2014 09:30:00|
|Next Release:||03-10-2013 08:30:00|
September has produced an unusual down blip for the UK economy in terms of the monthâs Purchasing Managers Indices (PMI). Following the round of finalised numbers across the sectors this week the overall Composite PMI is reading lower at a level of 54.7, this number had been trending solidly upwards and the scale of the pull back today has somewhat caught markets by surprise. At 57.4 the UKâs Composite PMI is markedly lower in September than the August reading of 59.3, a slight drop had been forecast but only to 58.2.
Yesterdayâs Construction PMI was the only bright spot in this series of data this week for the UK, this registered a slight gain from 64.0 to 64.2. The real problem areas this month appear to be in the Manufacturing and Services sectors. Manufacturing data announced on Wednesday showed a slight drop from 52.2 to just 51.6, there had been anticipation for some moderate growth in this sector. The Services number announced this morning however is the real culprit in Britainâs weak PMIâs, this has been reported as 58.7 compared to 60.5 in August, consensus here was for a 59.0 reading today.
The drop in the services number represents a three month low for the UK but this needs to be taken in the context of the recent run of rapid expansion in Britainâs economy, the PMI...
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