August 2014 UK Markit/CIPS services PMI 60.5 vs 58.5 exp

  • Prior 59.1
  • Composite PMI 59.3 vs 58.8 prior. Revised to 58.6
  • New business 58.8 vs 60.2 prior

A good headline but new business was down which takes some of the shine off. Employment and confidence fell to the lowest in 15 months too.

Marginal reaction in GBP/USD which tacked on 12 pips to 1.6492

UK services PMI 03 09 2014

UK services PMI 03 09 2014

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