UK May flash services PMI 50.2 vs 50.0 expected

• Prior 49.0
• Manufacturing PMI 45.1 vs 46.0 expected
• Prior 45.4
• Composite PMI 49.4 vs 49.3 expected
• Prior 48.5

These are mostly in line figures and nothing to be afraid or cheer about. The agency notes that confidence rebounded and price pressures have moderated after spiking higher. The sentiment about prospects in the year ahead remains subdued and job cutting remains worryingly aggressive, especially in manufacturing. The agency sees the BoE continuing with rate cuts.

This article was written by Giuseppe Dellamotta at www.forexlive.com.