UK services PMI shows Q1 output dropped to three-year low

By FXStreet UK services PMI released today showed services growth picks up slightly in March but the quarterly output was the weakest since Q1 2013.

The Business Activity Index rose to 53.7 in March, from February’s 35-month low of 52.7.

Key points

The Index remained below its long-run average of 55.2, and the average for the first quarter of 2016 (54.0) was the lowest of any quarter since Q1 2013

The volume of incoming new business increased in March but at the weakest rate since January 2013

The rate of job creation was solid overall, but remained weaker than the trend shown over the current 39-month sequence of growth

Input price inflation remained below the long-run survey average. Meanwhile, prices charged by service providers rose at the fastest rate in over two years
For more information, read our latest forex news. …read more

Source:: FX Street