June 2016 UK Markit CIPS services PMI 52.3 vs 52.8 exp

5 July 2016, 14:55
Sherif Hasan

Details from the June 2016 UK Markit/CIPS services PMI data report 5 July 2016

  • Prior 53.5
  • New orders 52.3 v s53.5 prior
  • Composite 52.4 vs 52.0 exp. Prior 53.0
  • New orders 53.0 vs 51.5 prior
  • Slowest employment growth since Aug 2013
  • Expectations fall to the weakest since Dec 2012

Despite the drop that may not be as bad as some might have feared (myself included) and could support the pound from here.

Markit's Chris Williamson comments on the report below but most of that is just his opinion rather than the opinion of respondents;

UK services PMI

GBPUSD is not suitably impressed as it looked to hold but then has just nicked a new low at 1.3137. Over to Carney next.

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