The UK manufacturing PMI is up a tenth in April, rising to 55.3 points from 55.2 in March, improving the estimated 54 points.
The services PMI has dropped to 58.3 points from 62.6 the previous month, standing at a three-month low. In addition, the indicator has not reached the 58.3 points expected by the market.
According to the S&P Global report, there has been a slower rise in UK private sector output in the three months from February to April as record inflationary pressures and the war in Ukraine weighed on demand.
GBP/USD reaction
The GBP/USD has fallen to fresh almost 18-month lows at 1.2882. Earlier, the pair has lost nearly 150 pips this Friday from the intraday high around 1.3035 earlier in the Asian session. At time of writing, the pair is trading above 1.2887, shedding 1.1% on the day.
Source: Fx Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
