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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK DATA
A big beat for February UK flash PMIs, with 8-month highs for both Composite (53.0 vs 49.0 expected, 48.5 prior) and Services (53.3 vs 49.2 expected, 48.7 prior), and a 7-month high for Manufacturing PMI (albeit still in contractionary territory at 49.2, vs 47.5 expected, 47.0 prior).
- Overall a very solid report across the board, particularly for the services sector, with inflationary dynamics and weaker manufacturing new orders the main concerns.
- From the S&P Global / CIPS report: "Survey respondents cited rising customer demand and improving business confidence in February, due to lower economic uncertainty, fewer supply shortages and falling inflation."
- Overall new orders rose for the first time in 7 months, though that was due to a solid upturn in services, vs a slight drop for manufacturers.
- The rate of job creation rose the fastest since October, due largely to services hiring. Respondents reported difficulties finding suitable candidates, "despite higher starting salaries".
- While input costs increased the least since April 2021, prices charged inflation eased "only fractionally, especially in the service economy", as many respondents said they needed to pass on "higher wages, food costs and energy bills".
Source: S&P Global, CIPS, ONS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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