UK June flash services PMI 51.3 vs 51.3 expected

• Prior 50.9
• Manufacturing PMI 47.7 vs 46.6 expected
• Prior 46.4
• Composite PMI 50.7 vs 50.5 expected
• Prior 50.3

Key findings:

• Output growth picks up in June.
• Prices charged inflation eases to its lowest for nearly four and a half years.

The agency notes that despite a pick up, economi activity remains lacklustre. Companies continue to cut employment but all these things combined contributed to quell inflationary pressures, especially in the services sector. The agency suggests that the BoE is in good position to cut interest rates in August.

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