Key findings:
- Modest upturns in business activity and new work
- Employment growth slips to three-month low
- Strong rate of input cost inflation continues in March
IHS Markit / CIPS UK Services PMI March data signalled a slowdown in business activity growth across the UK service sector, with the latest expansion the weakest for over one-anda-half years. However, survey respondents noted that snow disruption and unusually bad weather conditions in March had been a key factor holding back business activity growth.
Meanwhile, input cost inflation remained strong, with the latest rise in operating expenses the fastest since December 2017, which contributed to another marked rise in average prices charged by service sector firms.
Source – Markit Economics
US Futures Build on Wednesday’s Impressive Bounce
USD/JPY – Yen Edges Lower, Japanese Household Spending Next
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
Latest posts by Craig Erlam (see all)
- Euro plunges on German manufacturing woes - 03/22/2019
- EU grants UK stay of execution - 03/22/2019
- Gold – Will the rally continue? (video) - 03/21/2019