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United Kingdom GBP

United Kingdom S&P Global/CIPS Services PMI Flash

Impact:
High
Source: S&P Global

Latest Release:

Date:
Surprise:
1.7
| GBP
Actual:
52.7
Forecast: 51
Previous/Revision:
50.9
Period: Dec
What Does It Measure?
The United Kingdom S&P Global/CIPS Services PMI Flash measures the economic health of the services sector, focusing on business activity, new orders, employment, and pricing. It serves as a valuable indicator of overall economic performance, with a key measure being a PMI reading above 50 indicating expansion in services activity and below 50 signifying contraction.
Frequency
This report is released monthly, typically on the first business day of each month providing preliminary estimates of the previous month’s performance.
Why Do Traders Care?
Traders closely monitor this indicator due to its significance in reflecting the service sector's performance, which constitutes a large part of the UK economy. Stronger-than-expected figures can lead to appreciation of the British pound against other currencies and may uplift stock market sentiment, while weaker results could have the opposite effect.
What Is It Derived From?
The Services PMI is derived from a monthly survey of purchasing managers in the services industry, gathering data on various aspects of business activity. The indicator is calculated using a diffusion index methodology, which aggregates responses from participants regarding new orders, output, employment, and prices, assigning weights to reflect the significance of each component.
Description
Since this report provides preliminary data, it is based on early estimates and can be subject to revision in subsequent releases. The PMI is reported on a month-over-month basis, emphasizing short-term changes in the services sector performance and allowing traders to identify sudden shifts in economic conditions.
Additional Notes
The S&P Global/CIPS Services PMI Flash is a leading indicator, often used to predict future economic activity in the UK services sector. Comparatively, its results can be analyzed alongside manufacturing PMI data to provide a holistic view of economic trends and inform investors about potential growth or contraction phases.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for GBP, Bullish for Stocks. Lower than expected: Bearish for GBP, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Dec 15, 2023
52.7
 51
50.9
 1.7
Nov 23, 2023
50.5
 49.5
49.5
 1
Oct 24, 2023
49.2
 49.3
49.3
 -0.1
Sep 22, 2023
47.2
 49.2
49.5
-2
Aug 23, 2023
48.7
 51
51.5
-2.3
Jul 24, 2023
51.5
 53
53.7
 -1.5
Jun 23, 2023
53.7
 54.8
55.2
 -1.1
May 23, 2023
55.1
 55.5
55.9
 -0.4
Apr 21, 2023
54.9
 52.9
52.9
 2