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    X-Trade Brokers

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    Services PMI in UK surprises to the upside

    Expectations were for a 52.5 print, but it turned out to be 53.5, a 1.2 pts. gains from last month. 

    However, a weak part of the report was a new orders index which fell to 51.4 from 53.1 in April. That was the lowest reading since December 2012, but was also a 41 consecutive month of expansion.

    The pound ignores the data which is quite obvious given the fact that the Brexit referendum is around the corner.

     

    Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.


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