Details from the February 2016 UK Markit/CIPS services PMI data report 3 March 2016
– New business 54.1 vs 56.8 prior
– Composite PMI 52.8 vs 55.7 exp. Prior 56.1. Revised to 56.2
That’s going to do the pound rally no favours. That’s the lowest since March 2013. The folks at Markit say that Q1 GDP could drop to 0.3%. Brexit was said to be one of the main reasons behind the fall in activity.