U.K. Services Purchasing Managers Index (PMI)

GBP
Actual
52.9
Forecast
54.7
Previous
55.0
Latest Release
May 23, 2024
Importance
Overview
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.
Historical Data
Release Date
Time
Actual
Forecast
Previous
May 23, 2024 14:00 52.9 54.7
55.0
May 03, 2024 (Apr) 14:00 55.0 54.9
53.1
Apr 23, 2024 14:00 54.9 53.0
53.1
Apr 04, 2024 (Mar) 14:00 53.1 53.4
53.8
Mar 21, 2024 15:00 53.4 53.8
53.8
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  • suprabhat dey @suprabhat dey
    I think it will be negative for GBP.
    Like 0

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