11/23/2021, 10:34 AM (Source: TeleTrader)
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UK composite PMI down slightly in November

United Kingdom Composite Output Index stood at 57.7 in November, down 0.1 index points from the month prior, according to a preliminary report published by the IHS Markit and the Chartered Institute of Purchasing & Supply (CIPS) on Tuesday.

Flash UK Services Business Activity Index decreased by 0.5 index points from October, landing at 58.6 in November, while Flash UK Manufacturing PMI hit 58.2, representing a 0.4 index point rise compared to the previous month.

"The relatively poor performance of manufacturing is likely to remain a concern for some time, however, as is the potential to see tighter growth-inhibiting COVID-19 restrictions applied amid high COVID-19 case numbers both at home and now also in continental Europe. The latest survey results will none the less likely shorten the odds of an interest rate hike at the Bank of England's December meeting," IHS Markit Chief Business Economist Chris Williamson noted.

Baha Breaking the News (BBN) / MS