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3 Oct 2013
Flash: UK data back on track keep GBP bid – TD Securities
FXstreet.com (London) - Research teams offer a detailed insight to the most recent data from the UK.
Key Quotes:
“The UK Services PMI continued to hold up well in September, declining from 60.5 to 60.2”.
“The details of the report were just as strong as the headline would suggest”.
“Incoming new business was strong again, pointing to further strength ahead, and backlog of orders increased as businesses are strained by the pick-up in demand”.
“Employment growth was near a 6y high, and there were some reports of wage rises. Overall, Q3 was the best quarter for UK PMIs since Q2 1997”.
“Markit note that PMIs are consistent with 1.2% Q/Q growth for Q3, but that still looks on the high side to us compared to the hard data”.
Key Quotes:
“The UK Services PMI continued to hold up well in September, declining from 60.5 to 60.2”.
“The details of the report were just as strong as the headline would suggest”.
“Incoming new business was strong again, pointing to further strength ahead, and backlog of orders increased as businesses are strained by the pick-up in demand”.
“Employment growth was near a 6y high, and there were some reports of wage rises. Overall, Q3 was the best quarter for UK PMIs since Q2 1997”.
“Markit note that PMIs are consistent with 1.2% Q/Q growth for Q3, but that still looks on the high side to us compared to the hard data”.