UK Data Forecasts: August Markit/CIPS Services PMI

Repeats Story Initially Transmitted at 13:55 GMT Sep 4/09:55 EST Sep 4

By Jamie Satchithanantham

     LONDON (MNI) - The UK Services PMI will have almost slipped in August,

falling back to the level set in June, erasing virtually all of July's marginal

gain, a Market News survey shows. The headline index expected to have fallen to

in 53.5 in August, 0.1 point above June's outturn.  

     Service sector activity, as measured by the IHS Markit/CIPS Service

Purchasing Managers' Index, increased marginally in July after slipping to a

four-month low in June. The index rose by 0.4 points to 53.8 in July. 

     While above the neutral-50 mark, and thus indicating a somewhat solid

expansion within the sector, the outturn was below the post-crisis trend and

there was evidence from survey respondents of clients, irked by potential

economic developments, and households, with incomes stretched amid rising

prices, reluctant to spend.

     Of the 17 analysts polled, only two expect business activity to have

quickened in August. Three expect to see no change while the remaining 12 pencil

in a drop of some magnitude.       

----------------------------

                         Aug

                    Services

                         PMI

                       Index

Date Out              05-Sep

Median                  53.5

Forecast High           54.0

Forecast Low            52.0

Standard Deviation       0.5

Count                     17

Prior                   53.8

ABN Amro                53.0

Barclays                52.0

Berenberg               54.0

Capital Economics       54.0

Credit Suisse           53.3

Commerzbank             53.5

HSBC                    53.8

ING                     53.6

Investec                53.8

JP Morgan               53.8

Lloyds TSB              53.0

Natixis                 53.5

Nomura                  53.5

Oxford Economics        53.5

Pantheon                53.0

RBC                     53.4

Societe Generale        53.0

--MNI London Bureau; +44 203-586-2226; email: jamie.satchithanantham@marketnews.com

[TOPICS: MTABLE]