UK services PMI jumps to 51.4 in July vs. 50.2 expected (GBP holds steady above 1.2100 handle)

Haresh Menghani FXStreet

July data signalled a slight improvement in the performance of the UK service sector, the latest survey report from Markit Economics showed this Monday.

The headline seasonally adjusted IHS Markit/CIPS UK Services PMI Index jumped to 51.4 in July as against consensus estimates pointing to a reading of 50.2, same as the previous.

Key Points:

• A modest increase in service sector output.
• Rebound in new work, helped by export sales.
• Business expectations ease to a four-month low.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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