Market comment

UK PMI surveys make December rate hike more likely


The flash UK composite PMI at 57.2 in November suggests the economy is still expanding at a brisk pace, stronger than expected, albeit with supply chain issues holding back manufacturing accompanied by record cost pressures. Further, there is little evidence the end of the jobs furlough scheme has led to looser labour market conditions, pointing to a rate hike in December.

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Nov 24 2021, 07:35 GMT