Market Updates: UK Service Sector Crosses Above 50
UK service providers reported a surge in business activity during April. Thereby indicating a recovery to growth following the marginal...
Arslan Butt•Friday, May 3, 2019•1 min read
As per the recent release, the UK service providers reported a surge in business activity during April. Thereby indicating a recovery to growth following the marginal drop seen through the previous month.
However, the rate of increase was only small. Employment figures were broadly stable during the recent survey period, with companies reporting that higher wage costs and weaker sales had led to cautious staff hiring policies.
With that, the Services PMI is showing a surge from 48.9 to 50.4 which is now supporting the Sterling & related pairs.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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