- 56.2 prev
- composite PMI 57.6 vs 56.2 exp vs 55.8 prev
- employment component rises to 55.8 vs 55.6 prev. highest since July
Better than expected for this key sector of GDP but Markit says it points to a Q4 GDP drop to +0.6% from +0.7% in Q3
GBPUSD spikes up through 1.5655 EURGBP down to 0.7873. Currently 1.5651/0.7882 as the market takes stock of session moves so far.
Interesting to note though that it’s not too long ago that a reading like that versus expectations would have sent the pound rocketing a lot higher. Just saying.
UK Markit CIPS Services PMI mm
