January 2018 UK Markit/CIPS services PMI 5 February 2018

  • Prior 54.2
  • New orders 53.3 vs 54.2 prior
  • Composite 53.5 vs 54.6 exp. Prior 54.9
  • Services output rises at slowest pace since September 2016
  • New order growth weaker than 2017 average
  • Price pressures remain elevated, but wane as costs show smallest rise for 16 months
  • job creation accelerated slightly to a four-month high
  • firms remained optimistic that business activity will be higher over the course of the year, with business confidence the strongest since last March

Markit says that the PMI points to Q1 growth of just under 0.3% q/q. GBPUSD falls to 1.4116 from around 1.4143.


Ryan Littlestone

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