Index of business activity in the service sector (PMI) in Great Britain! In an hour!
Dear traders,
At 11:30 (Kiyv) a report on the leading services sector of Great Britain will be published. According to forecasts, in May the PMI index will slightly increase to 52.9 after the previous month’s value of 52.8.
The report on Friday showed that in May, business activity in the UK manufacturing sector slightly increased for the first time in six months. However, this growth was offset by weak output indicators.
In the first quarter, the growth of the British economy slowed compared to growth in other developed countries due to a combination of factors: unusually snowy weather and the consequences of Britain’s withdrawal from the EU.
The Bank of England expects that the decline in economic growth in the first quarter was a temporary phenomenon caused by cold and snowy weather. Only after confirming its forecasts, the Bank of England will raise the interest rate for the second time in the last decade. (Investing.com)
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