Breaking News: UK PMI Data Analysis
- UK Services PMI ticks down to 52.8 in September, beating estimates.
- Manufacturing PMI in the UK declines to 51.5 in September.
- GBP/USD sticks to losses near 1.3250 after downbeat UK business PMIs.
The latest seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) has eased from 52.5 in August to 51.5 in September, slightly below the market forecast of 52.3.
On the other hand, the Preliminary UK Services Business Activity Index dipped to 52.8 in September, down from 53.7 in August and below the market consensus of 53.5.
In response to the flash PMI data, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, commented: “A slight cooling of output growth across manufacturing and services in September should not be seen as too concerning, as the survey data are still consistent with the economy growing at a rate approaching 0.3% in the third quarter, which is in line with the Bank of England’s forecast.”
FX Implications
The GBP/USD pair maintained its downtrend near 1.3250 after the disappointing UK PMI data, currently trading 0.45% lower for the day.
British Pound Price Today
The table below illustrates the percentage change of the British Pound (GBP) against major currencies today, highlighting its performance against other currencies:
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF |
|---|
The heat map visually represents the percentage changes of major currencies against each other. By analyzing these metrics, investors and traders can gain insights into the relative strength of the British Pound against different currencies.
Stay tuned for further updates on the financial markets and how these developments impact global currency pairings.