Flash Manufacturing and Services PMI 16/12/2021

This article includes an interpretation of the British Industrial and Services PMI, expectations for today's data, and a look at previous data with the timing of the release of this statement

Flash Manufacturing PMI

Determines the Purchasing Managers' Index for the industrial sector issued by the institution approved for purchase and supply; The activity level of purchasing managers in the industrial sector, a reading above 50 indicates expansion. To obtain a reading of this indicator, purchasing managers determine the level of some elements in this sector, including employment, production, new orders, resource distribution, and inventories. This indicator is considered a leading indicator of overall economic performance.

UK Manufacturing PMI stood at 58.1 in November 2021, little-changed from a preliminary estimate of 58.2 and compared with 57.8 in the previous month. Output growth accelerated from October's eight-month low and new business increased for the 10th straight month, underpinned by stronger UK market conditions, returning customers and rising client confidence. Still, new export sales fell for a third month in a row, amid reports of weaker demand from China, disruption to trade with the EU in part due to Brexit, and the cancellation of some orders due to extended lead times. Capacity also remained stretched at UK manufacturers during November, with backlogs of work rising to a near record extent, while the pace of job creation was the strongest since August. On the price front, input costs hit a record high. Finally, business optimism hit a three-month high

If the data is issued higher than expected, it will positively affect the currency and vice versa
Estimate for today's data 57.5

The statement will be issued at half past eleven in the morning Beirut time

Flash Services PMI

Determine the purchasing managers' index for the industrial sector issued by the approved organization for purchasing and supplying; The activity level of purchasing managers in the industrial sector, a reading above 50 indicates expansion. To obtain a reading of this indicator, purchasing managers determine the level of some elements in this sector, including employment, production, new orders, resource distribution, and inventories. This indicator is considered a leading indicator of general economic performance

UK Services PMI stood at 58.5 in November 2021, little-changed from a preliminary estimate of 58.6 and below October's final reading of 59.1. The latest reading pointed to strong output growth, although some firms noted that shortages of staff and supply chain issues had acted as a constraint on expansion. New business rose the most since June, supported by solid increases in consumer and business spending, while export sales rose the most in over four-and-a-half years. Employment numbers increased for a ninth consecutive month, but at the slowest rate since July due to difficulties finding candidates to fill vacancies. On the price front, the latest rise in input prices was the strongest in 25 years of data collection and prices charged by service sector firms also rose at a survey-record pace. Finally, business optimism was the lowest for 12 months.

If the data is released higher than expected, it will positively affect the currency and vice versa
Estimate for today's data 57.1

The statement will be issued at half past eleven in the morning Beirut time

Tags : GBP