UK August flash services PMI 53.3 vs 52.8 expected ...Middle East

Prior 52.5Manufacturing PMI 52.5 vs 52.1 expectedPrior 52.1Composite PMI 53.4 vs 52.9 expectedPrior 52.8The resilience in the UK economy is certainly commendable and this will ease pressure on the BOE to force rate cuts. But the good news in the report here is that price pressures have also eased on the month. Input cost inflation fell to its lowest in just over three-and-a-half years, so there's that. However, service providers did note that wage inflation remains elevated so it's not all plain sailing just yet. S&P Global notes that:“August is witnessing a welcome combination of stronger economic growth, improved job creation and lower inflation, according to provisional PMI survey data. “

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Last updated : 22 August 2024 clock 11:45 AM

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UK August flash services PMI 53.3 vs 52.8 expected ...Middle East

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