UK January flash services PMI 51.2 vs 50.9 expected

• Services PMI 51.2 vs 50.9 expected and 51.1 prior.
• Manufacturing PMI 48.2 vs 47.0 expected and 47.0 prior.
• Composite PMI 50.9 vs 50.0 expected and 50.4 prior.

All the indices jumped to a 3-month high. S&P Global says that companies have been cutting employment amid falling sales and that price pressures reignited pointing to a stagflationary scenario. It adds that although output ticked higher, it's an economy that is broadly flatlining with risks remaining skewed to the downside.