UK Manufacturing PMI misses estimates with 52.9 in Jan. Services PMI in the UK contracts to 38.8 in Jan, a big miss. The UK manufacturing and services sector activities deteriorated in January, the preliminary report from IHS Markit showed this Friday. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) hit a seven-month low of 52.9 in January versus 54.0 expected and 57.5 – December’s final reading. Meanwhile, the Flash UK Services Business Activity Index for January contracted to an eight-month low of 38.8 versus December’s final readout of 49.4 and 45.0 expected. […] FX implications The downbeat UK Preliminary Manufacturing and Services PMIs exerted additional downside pressure on GBP/USD, as the major refreshed daily lows at 1.3655.
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