UK: August services PMI likely to jump nearly two points to 49.2 - TDS

Research Team at TDS, suggests that reflecting the upside surprise to last week’s manufacturing PMI, they expect the UK’s August services PMI to jump nearly two points to 49.2, somewhat weaker than consensus of 50.0.

Key Quotes

“We’d caution reading too much into the summer’s PMIs, however, as in particularly volatile times, the fact that they only capture direction of growth and not magnitudes can be misleading.”