In view of James Smith, developed markets economist at ING, UK’s latest service sector PMI reading of 51.2 for December doesn’t bode well for British economic growth over the winter, even though the reading was better than the November.
Key Quotes
“The underlying details emphasise Brexit uncertainty has seen new orders drop off, hitting job creation and activity.”
“It’s pretty evident that Brexit uncertainty is weighing more-and-more heavily on decision-making and we, therefore, expect growth of 0.2% in the final quarter of 2018.”
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