FOREX TradingCharts.com

Financial News: UK Services Activity Remains Subdued Despite Topping Expec

UK Services Activity Remains Subdued Despite Topping Expectations

01/04/2019 - 06:36:00 (RTTNews)

(RTTNews) - British services sector expanded at a faster-than-expected pace at the end of 2018 amid modest gains in activity and demand, yet the overall business situation remained subdued, survey data from IHS Markit showed on Friday.

The CIPS UK Services Purchasing Managers' Index rose to 51.2 from November's 50.4, a 28-month low. Economists had forecast a score of 50.7.

A PMI reading above 50 suggests growth in the sector.

Reports from survey respondents suggested that Brexit-related concerns were a key factor weighing on business-to-business spending at the end of 2018 and subdued consumer demand acted as a brake on sales for some firms, IHS Markit said.

Thanks to a weak pick up in new work, service sector job creation was the lowest in 29 months during December. Cost cutting efforts also contributed to softer employment growth.

Input cost inflation edged up slightly from November's six-month low.

Service sector business confidence weakened for a third straight month and was the second-weakest since March 2009.

The UK Composite PMI rose to 51.6 from 51 in November, defying economists' expectations for a decline to 50.8.

The latest reading was the second-lowest since July 2016.

"Combined with disappointing growth in the manufacturing and construction sectors, the meager service sector expansion recorded in December is indicative of the economy growing by just 0.1%.in the closing quarter of 2018," IHS Markit Chief Business Economist Chris Williamson said.

"Both manufacturing and services have seen previously solid hiring trends stall to near-stagnation, underscoring how the uncertainty faced by businesses will inevitably feed through to households as the job market deteriorates," he added.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Plunges To Lowest Level Since Trump's Election (05 hr(s), 37 min(s), 19 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. has seen a substantial deterioration in the month of Ja ...Full Story»

Portugal Producer Price Inflation Slows For Second Month (05 hr(s), 49 min(s), 19 sec(s) ago)
(RTTNews) - Portugal producer price inflation slowed for a second straight month in December, figu ...Full Story»

Eurozone House Price Growth Retains Momentum In Q3 (06 hr(s), 07 min(s), 19 sec(s) ago)
(RTTNews) - Eurozone house prices grew at a robust rate in the third quarter, albeit slightly slow ...Full Story»

U.S. Industrial Production Rises Slightly More Than Expected In December (06 hr(s), 13 min(s), 19 sec(s) ago)
(RTTNews) - With jumps in manufacturing and mining output more than offsetting a sharp pullback in ...Full Story»

Swiss Producer And Import Price Inflation Lowest In 16 Months (06 hr(s), 17 min(s), 19 sec(s) ago)
(RTTNews) - Switzerland's producer and import prices grew at the weakest pace in sixteen month ...Full Story»

UK Retail Sales Fall Worst Since May 2017 (07 hr(s), 02 min(s), 19 sec(s) ago)
(RTTNews) - UK retail sales decreased in December at the fastest pace in over one-and-a-half years ...Full Story»

Eurozone Current Account Surplus Falls In November (08 hr(s), 30 min(s), 19 sec(s) ago)
(RTTNews) - Eurozone current account surplus decreased in November, led by a decline in the surplu ...Full Story»

UK Retail Sales Fall Most Since May 2017 (09 hr(s), 29 min(s), 19 sec(s) ago)
(RTTNews) - UK retail sales decreased in December, marking the worst decline in over one-and-a-hal ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Plunges To Lowest Level Since Trump's Election

01/18/2019 - 10:16 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. has seen a substantial deterioration in the month of Ja ...Full Story>>

Portugal Producer Price Inflation Slows For Second Month

01/18/2019 - 10:04 AM (RTTNews)
(RTTNews) - Portugal producer price inflation slowed for a second straight month in December, figu ...Full Story>>

Eurozone House Price Growth Retains Momentum In Q3

01/18/2019 - 09:46 AM (RTTNews)
(RTTNews) - Eurozone house prices grew at a robust rate in the third quarter, albeit slightly slow ...Full Story>>

U.S. Industrial Production Rises Slightly More Than Expected In December

01/18/2019 - 09:40 AM (RTTNews)
(RTTNews) - With jumps in manufacturing and mining output more than offsetting a sharp pullback in ...Full Story>>

Swiss Producer And Import Price Inflation Lowest In 16 Months

01/18/2019 - 09:36 AM (RTTNews)
(RTTNews) - Switzerland's producer and import prices grew at the weakest pace in sixteen month ...Full Story>>
These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.