Latest data released by Markit/CIPS - 4 January 2018
- Prior 53.8
- Composite PMI 54.9 vs 55.0 expected
- Prior 54.9
A beat on the headline as cable jumps about 10 pips on the release. However, new business components reading fell to its lowest since August 2016. And Markit estimates that this should point to a UK GDP growth of 0.4 - 0.5% for Q4 2017.
Markit also reports that input price inflation rose to a three-month high. Full report can be found here.
Not much from the details as well. The Markit estimate there for Q4 GDP matches/beats the Q3 number which was +0.4% q/q.
Cable now surrendering back gains, now at 1.3538. The headline reading is pretty much within expectations, an improvement from prior numbers but nothing to shout about really.
