- Monday, 05 September 2016
- News
UK Services PMI rebounded to 52.9
The UK service sector returned to growth in August, according to PMI survey data from IHS Markit and CIPS. Following abrupt contractions in output and new business in July linked to disruption related to the outcome of the EU referendum, the latest data signalled a return to growth as companies reported that uncertainty had abated somewhat. Moreover, the forward-looking business expectations index recovered most of the ground lost in July when confidence took a knock from the Brexit vote amid political and economic uncertainty, albeit remaining weak by historical standards.
Read more...- Thursday, 01 September 2016
- News
UK Manufacturing PMI increased to 53.3
August saw solid rebounds in the trends in UK manufacturing output and incoming new orders. Companies reported solid inflows of new work from both domestic and export sources, the latter aided by the sterling exchange rate. Employment rose for the first time in the year-to-date. At 53.3 in August, the seasonally adjusted Markit/CIPS Purchasing Managers’ Indeks recovered sharply from the 41-month low of 48.3 posted in July following the EU referendum. Read more...
- Monday, 29 August 2016
- News
UK economy wasn't hurt by Brexit, according to recent reports
It’s early, but data so far suggest the British decision to leave the European Union could be another example of a recurring phenomenon: expert predictions of dire consequences to political decisions that end up proving overheated. In the days after the vote, global stock markets indeed fell sharply. Perhaps if it had been just a little bit worse, a broader panic would have sent things into a spiral. Instead, markets have rebounded. The FTSE 100 climbed to near-record levels by the middle of August. Nor has the wider economy shown many signs of a coming downturn.
Read more...- Tuesday, 09 August 2016
- News
UK Industrial Production up by 0.1%
Total production output is estimated to have increased by 2.1% between Quarter 1 (Jan to Mar) 2016 and Quarter 2 (Apr to Jun) 2016. This increase was unchanged from the forecast contained within the Gross domestic product, preliminary estimate: Apr to June 2016. Hence there is no impact on the previously published GDP estimate for Quarter 2 (Apr to Jun) 2016. The largest contribution to the quarterly increase in total production came from manufacturing, which increased by 1.8%. The largest contribution to the increase in manufacturing came from the manufacture of transport equipment, which increased by 5.6%.
Total production output is estimated to have increased by 1.6% in June 2016 compared with June 2015. There were increases in all of the main sectors, with the largest contribution coming from manufacturing (the largest component of production), which increased by 0.9%. Total production output is estimated to have increased by 0.1% in June 2016 compared with May 2016. There were increases in 3 of the 4 main sectors, with the only downward contribution coming from manufacturing, which decreased by 0.3%. There were decreases in 9 of the 13 manufacturing subsectors, with the largest contribution coming from the manufacture of transport equipment, which decreased by 1.0%.
Sterling is currently being traded below 1.30 handle. Pair is likely to find support around 1.2950 handle and resistance above 1.3050 level.
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