Details of the March 2016 UK Markit/CIPS services PMI data report 5 April 2016
– New orders 52.9 vs 54.1 prior. Lowest since Jan 2013
– Composite 53.6 vs 53.4 exp. Prior 52.8. Revised to 52.7
The drop in new orders takes some gloss off. The main positive is that we saw it drop 2.9 points in Feb and it’s recovered 1.0 points back. Not that the pound looks interested as it sits a couple of pips above 1.4200.