UK January flash services PMI 51.2 vs 50.9 expected

• Services PMI 51.2 vs 50.9 expected and 51.1 prior.
• Manufacturing PMI 48.2 vs 47.0 expected and 47.0 prior.
• Composite PMI 50.9 vs 50.0 expected and 50.4 prior.

All the indices jumped to a 3-month high. S&P Global says that companies have been cutting employment amid falling sales and that price pressures reignited pointing to a stagflationary scenario. It adds that although output ticked higher, it’s an economy that is broadly flatlining with risk remaining skewed to the downside.

This article was written by Giuseppe Dellamotta at www.forexlive.com.