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UK Services PMI posted 52.3 in June

Tuesday, Jul 05 2016
The Business Activity Index fell from 53.5 in May to 52.3 in June, matching April’s 38-month low and signalling a relatively weak rate of growth in UK services output. Activity has risen every month since January 2013, but the index averaged just 52.7 in the second quarter, the weakest of any quarter since Q1 2013. The index has averaged 55.2 since it was first compiled in July 1996. 
The volume of new business received by UK service providers rose at a slightly faster rate in June, but the increase was still the secondweakest seen since the upturn began three-and-ahalf years ago. Firms commonly reported that uncertainty linked to the EU referendum had often led to postponed or cancelled orders from customers. 
 
Sterling is currently being traded few points above 1.3120 level. Pair is likely to find support around 1.3080 handle and resistance above 1.32 level.
More in this category: « RBA left interest rates unchanged BoE lowered amount of capital banks must hold in reserve »

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