UK PMI figures beat expectations
The UK's flash services PMI rose to 53.1, exceeding market expectations of 51.8 and the previous reading of 52.1.
Manufacturing PMI also increased to 52.8, above the 51.8 forecast and the previous 51.9 reading. Stronger activity across both sectors pointed to improving economic growth momentum.
The flash composite PMI climbed to 53.1, surpassing expectations of 51.7 and the previous reading of 52.0. With all three indicators remaining above the 50-point expansion threshold, the data suggested accelerating economic activity in the UK. Stronger growth could encourage the Bank of England (BoE) to remain cautious about interest-rate cuts, potentially supporting sterling.
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