UK services PMI drops to lowest since March 2013

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The seasonally adjusted Markit/CIPS UK Services PMI fell to 52.7 in February, from 55.6 in January. The reading was the lowest since March 2013.

    Key points

    The Index was below its long-run trend level (since July 1996) of 55.2

    New contracts received by UK service providers rose at the weakest pace in almost three years

    Services employment rose at the slowest pace in two-and-a-half years

    The rate of inflation remained historically weak, however, amid reports of lower fuel and energy prices
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