Analysts at TD Securities note that the UK’s services PMI fell from 51.0 to 50.2 in June (mkt 51.0), joining the manufacturing and construction PMIs in coming in weaker than conesnsus.
Key Quotes
“Markit noted that the fall in the PMIs is consistent with a contraction of -0.1% q/q for Q2 GDP, which is just a touch stronger than our negative forecast.”
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