The UK services sector showed encouraging signs of recovery in October, with PMI Services finalized at 52.3, up from September’s 50.8. Composite PMI also improved to 52.2 from 50.1. According to Tim Moore, Economics Director at S&P Global Market Intelligence, the latest survey “offered some positive signals,” as both output and new business growth accelerated […]
The post UK PMI composite finalized at 52.2, firmer growth, easing inflation pressures appeared first on Action Forex.
The UK services sector showed encouraging signs of recovery in October, with PMI Services finalized at 52.3, up from September’s 50.8. Composite PMI also improved to 52.2 from 50.1. According to Tim Moore, Economics Director at S&P Global Market Intelligence, the latest survey “offered some positive signals,” as both output and new business growth accelerated […]
The post UK PMI composite finalized at 52.2, firmer growth, easing inflation pressures appeared first on Action Forex.
Well, China had pledged a commitment to purchase 12 million metric tons of US soybeans by the end of January. That comes after of course having halted soybean purchases from the US just ahead of the meeting between Xi and Trump in South Korea. Another thing to note is that Beijing had also interestingly kept duties on soybeans (13%) despite suspending some tariffs against the US earlier today. That will at least give them some excuse to easily divert away from the US and back to Brazil after a couple of months.
This article was written by Justin Low at investinglive.com.
Eurozone business activity accelerated strongly in October, with HCOB Services PMI finalized at 53.0, the highest in 17 months, up from 51.3 in September. Composite PMI also climbed to 52.5, a 29-month high, signaling the region’s strongest pace of expansion since early 2023. The rebound was broad-based across major economies, though notable divergences remain, with […]
The post Eurozone composite PMI hits 29-month high as Germany leads recovery appeared first on Action Forex.
Key findings:
Comment:
Tim Moore, Economics Director at S&P Global Market
Intelligence, said:
“The latest survey offered some positive signals for the
UK service economy, with output growth stronger than
the earlier ‘flash’ estimate for October, and therefore
confirming a notable improvement from September’s five-
month low. Similarly, the rate of new business expansion
gained momentum, with the latest upturn among the
strongest seen over the past year.
“Service providers typically commented on a turnaround
in new client wins and better-than-expected sales
performances in October. A number of firms noted
resilient customer demand, especially in domestic
markets, despite elevated business uncertainty and
delayed decision-making on major spending ahead of the
Budget.
“Labour market conditions finally showed some signs
of stabilisation, with the pace of job cuts in the service
economy slowing considerably since September. This was
helped by improved confidence towards the business
outlook. Output growth expectations rebounded to a
12-month high in October. Lower borrowing costs and
planned investments in new technologies were cited as
factors supporting positive sentiment.
“Higher wages were again widely reported as pushing up
input prices. However, the overall pace of cost inflation
was the lowest since November 2024. Adding to signs of
easing inflationary pressure, latest data indicated that
service providers increased their prices charged to the
least marked extent since June.”
This article was written by Giuseppe Dellamotta at investinglive.com.
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