The headline seasonally adjusted IHS Markit/CIPS Services PMI® Business Activity Index picked up to 53.8 in July, from 53.4 in June, to remain above the 50.0 no-change value for the twelfth month running. However, the latest reading signalled a slower rate of business activity growth than the post-crisis trend. Survey respondents noted that heightened economic uncertainty and fragile confidence among clients were key factors acting as a brake on growth.
UK Services PMI rose to 53.8
July data pointed to a sustained increase in business activity across the UK service sector, but the rate of expansion remained relatively subdued. This largely reflected weaker rises in new work compared with those seen earlier in 2017, with the latest upturn only slightly stronger than June’s nine- month low. Service providers nonetheless continued to boost their employment numbers, with the pace of job creation edging up to its strongest for a year-and-a-half.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419