UK Services PMI Hits Four Month High in April

Britain’s economy picked up some steam in April after slowing in early 2017, a closely-watched survey suggested on Thursday, welcome news for Prime Minister Theresa May ahead of a national election in just over a month’s time.

But separate figures from the Bank of England showed caution on the part of house-buyers in March, adding to signs of a slowdown in the housing market as rising inflation squeezes consumers.

The Markit/CIPS Purchasing Managers’ Index (PMI) of Britain’s giant services industry unexpectedly rose to a four-month high of 55.8 in April, above all the forecasts in a Reuters poll of economists.


Europe Boosted as Macron Retains Large Poll Lead

The FOMC provided some unexpected impetus

Gold Dips as Markets Await Fed Rate Statement

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

Latest posts by Craig Erlam (see all)