wrapper

UK Services PMI little changed in January

Wednesday, Feb 03 2016
The UK’s dominant service sector registered a further solid rate of expansion in January, according to the latest PMI survey data from Markit and CIPS. Growth of total business activity was little-changed from December, and new business rose at the sharpest rate since last July. Service providers raised employment at the fastest pace since last October. That said, output growth was weaker than the trend rates achieved in 2013, 2014 and 2015. Moreover, the longer-term outlook for business activity hit a three-year low.  
The current period of rising UK service sector output was extended to over three years in January, as signalled by the Business Activity Index remaining above the no-change mark of 50.0. The index was little-changed from December’s 55.5, at 55.6, and broadly in line with the average over the second half of 2015. Growth in January was slightly stronger than the long-run survey average, but weaker than the strength achieved in 2013 (56.9), 2014 (58.2) and 2015 (56.7). 
 
Sterling is currently being traded around 1.4450 handle. Pair is likely to find support around 1.44 handle and resistance above 1.45 level. Later today, in the US session, ADP job figures and Non-Manufacturing PMI data is scheduled for a release.
More in this category: « Spanish and Italian Services PMI declined in January Private sector employment increased by 205,000 jobs from »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.