Highlights of the August 2015 UK Markit services PMI data report 3 September 2015

  • Prior 57.4
  • New orders 56.2 vs 58.6 prior. Lowest since Apr 2013
  • Composite 55.1 vs 56.6 prior
  • New orders 55.8 vs 57.6 prior

That's not good, not good at all. Services to the lowest since May 2013

Markit says the numbers equate to Q3 GDP of 0.5% q/q. Q2 was 0.7%

GBPUSD slides to 1.5239 initially but has bounced back to 1.5258 as the dollar shows some further weakness

At the moment the Fed is the front runner on rate rises by a fair few furlongs and that's significantly weighing on the pound as well

UK services PMI