Latest data released by Markit/CIPS - 4 June 2018
- Prior 52.5
A beat relative to estimates, but unchanged from the April reading. The new order books shrunk once again, the fourth such contraction in the last five months.
Relatively muted market reaction so far as the data fails to offer any kind of strong signal to heighten the odds of a BOE rate hike this year. If anything, it just doesn't reaffirm any continuation of a soft patch that we saw in Q1. All eyes will turn to the services print tomorrow.
