According to analysts at TD Securities, UK services PMI is likely to weigh down by the spillovers from weaker European demand, coupled with anecdotal evidence of tough selling conditions in the retail sector and ongoing Brexit uncertainty.
Key Quotes
“We look for a further decline from 50.4 in November to 50.0 in December (mkt: 50.7), bringing it to the cusp between expansion and contraction, and largely reflecting the mediocre conditions seen in the broader economy in the past few months. The Brexit stockpiling that supported Wednesday’s upside surprise in the Manufacturing PMI are unlikely to play a role in the services sector.”
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