UK Manufacturing PMI rose to 45.2 in October, above expectations of 45.0. Services PMI in the UK fell to 49.2 in October, a downside surprise. GBP/US
D is recapturing bids above 1.2250on mixed UK business PMIs. The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index rose to 45.2 in October versus the 45.0 expected and, 44.3 - September’s final readout. Meanwhile, the Preliminary UK Services Business Activity Index reached a nine-month low of 49.2 in October, compared with a 49.3 final printfor September and the 49.5 expected figure.
Commenting on the flashPMIdata, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said: “The UK economy continued to skirt with recession in October, as the increased cost of living, higher interest rates and falling exports were widely blamed on a third month of falling output.” “The overall pace of decline remains only modest, signalling a mere 0.
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