- Analytics
- News and Tools
- Market News
- UK Preliminary Manufacturing PMI eases to 57.6 in December vs. 57.6 expected
UK Preliminary Manufacturing PMI eases to 57.6 in December vs. 57.6 expected
- UK Manufacturing PMI drops as expected to 57.6 in December.
- Services PMI in the UK misses estimates with 53.2 in Dec.
- GBP/USD holds gains near 1.3300 on mixed UK Preliminary PMIs.
The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) worsened to 57.6 in December versus 57.6 expected and 58.1 – November’s final reading.
Meanwhile, the Preliminary UK Services Business Activity Index for December slumped, arriving at 53.2 versus November’s final readout 58.5 and 57.0 expected.
Chris Williamson, Chief Business Economist at IHS Markit, commented on the survey
“The flash PMI data show the UK economy being hit once again by COVID-19, with growth slowing sharply at the end of the year led by a steep drop in spending on services by households.”
“Some brighter news came through from manufacturing, where an easing of supply chain delays helped lift production growth, but more importantly also helped take some upward pressure off prices to hint at a peaking of inflation.”
FX implications
Mixed UK Preliminary Manufacturing and Services PMIs failed to deter GBP bulls, as the GBP/USD pair kept its range near 1.3300.
The spot is trading at 1.3295, adding 0.26% on a daily basis, at the press time.
GBP/USD technical levels
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
