Market comment

UK Services PMI points to pick-up in activity in 2020

DAVY VIEW

Although still at the 50 no-change level, yesterday’s (January 6th) UK Services PMI indicated that activity may pick up in 2020, with business confidence rising to its strongest level in 15-months as firms anticipated a pick-up in activity in early 2020 with fears of a ‘no-deal’ Brexit resolved for now. Meanwhile, the euro area composite PMI at 50.9 in December signalled that the economy is still close to stagnation, held back by the contraction in manufacturing.

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Jan 7 2020, 08:20 GMT

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