UK Service PMI Shows Imbalance with Manufacturing

Bosses at Britain’s services firms are feeling chipper, judging by the latest purchasing managers index survey – in sharp contrast to industrialists, who were markedly downbeat in their own edition of the survey last week.

Such snapshots do not necessarily have much predictive power; but they do gauge a sector’s general mood. And it is not surprising it’s the services firms that are looking forward with optimism.

As the Office for National Statistics’ latest economic review – based on actual output data, not survey responses – points out, construction and manufacturing have never recovered from the deep recession in 2008, when output “fell off a cliff”, as it was frequently described at the time.

via The Guardian

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza