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United Kingdom Services Purchasing Managers Index (PMI)

United Kingdom Services Purchasing Managers Index (PMI)

Actual: 49.4
Forecast: 49.9
Previous: 47.6
Release Date: Jan 06, 2021
Currency: GBP
Country: United Kingdom
Source Of Report: The Chartered Institute of Purchasing & Supply and the NTC Economics

The Services Purchasing Managers' Index (PMI) is a diffusion index incorporating survey results provided by firms in the services sector throughout the country. A reading above fifty suggests the service sector is expanding, while a reading below fifty suggests the service sector is in contraction. Policymakers and traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, rather than waiting for the hard data to emerge. The service sector is far larger than manufacturing sector and thus accounts for the largest share of the country’s economic output.

A reading that is stronger than forecast is generally supportive (bullish) for the GBP, while a weaker than forecast reading is generally negative (bearish) for the GBP.

Release Date Actual Forecast Previous
Jan 22, 2021 (Jan)    49.9 49.9
Jan 06, 2021 (Dec) 49.4 49.9 47.6
Dec 16, 2020    49.9 50.5 47.6
Dec 03, 2020 (Nov) 47.6 45.8 51.4
Nov 23, 2020 (Nov)    45.8 52.3 52.3
Nov 04, 2020 (Oct) 51.4 52.3 56.1

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