February 2018 UK Marlit/CIPS services PMI 5 March 2018
- Prior 53.0
- New orders 55.1 vs 53.3 prior
- Markit says PMI points to Q1 growth of nearly 0.4% q/q
GBPUSD was under 1.3800 at 1.3785 but bounced to 1.3805 beore dipping back to 1.3797. That bounce to the highs earlier still looks suspicious.
- Business activity rises at fastest pace for four months
- Strongest upturn in new work since May 2017
- Input cost inflation lowest for a year-and-a-half
Despite pressure on operating expenses from higher staff salaries and transport costs, latest data indicated a moderation in input price inflation to its lowest since August 2016. Some firms noted that exchange-rate driven cost pressures had stabilised in recent months. Meanwhile, prices charged by service sector companies increased at the weakest rate for six months.