Latest data released by Markit - 2 July 2018
- Prior 54.4; revised to 54.3
A decent beat in the June print but it's more or less unchanged (a tick higher after revision) to the May reading. Hardly any notable jump in sterling on the release. The focus of the UK economy is on the services sector and the reading here doesn't change the overall picture all too much when it comes to the BOE hiking rates.
Looking into details, the manufacturers' optimism index hit a 7-month low and that reflects a subdued outlook as the Brexit cloud still looms large - and that will in turn impact the economy moving forward.
