UK services PMI hold...from AlphaSam

UK services PMI holds on 51 vs 50.6 expected. Still technically in expansion but sitting at long term low levels. When we consider this with the contracting industrial and construction PMI's from Monday/Tuesday we are back in slowdown territory! However, lets be honest... ££ has more problems these days.

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Wages rise at 3.1% and inflation only 2.1% 🙂? good news from the UK readings this morning. low unemployment also looks as though companies are replacing their long term capital investments with short term hiring. Lets see how this plays out once Brexit becomes clearer and they can either cut and run, or stay and invest.

AlphaSam

Crunch time for the US economy. Mexico tariffs incoming, Chinese relations breaking down by the day, EU tariffs on the cards for the next few months and now an increasingly fragile "special relationship" with the UK following his NHS comments. These jobs numbers could be a big sigh of relief for trump, or (as we expect) they could mimic the ADP readings and pile on the pressure.... although that has never seemed to bother him.

AlphaSam