S&P Global/CIPS Services PMI

The PMI service released by both the Chartered Institute of Purchasing & Supply and the Markit Economics is an indicator of the economic situation in the UK services sector. It captures an overview of the condition of sales and employment. It is worth noting that the UK service sector does not influence, either positively or negatively, the GDP as much as the Manufacturing PMI does. Traders want the highest possible reading as that will be taken as positive for the GBP. Any reading above 50 signals expansion, while a reading under 50 shows contraction.

Next event - Thursday 22 February 2024 09:30

Previous
54.3
Forecast
54.1
Actual
-

The typical/expected impact on GBP pairs is high.

The consensus forecast for S&P Global/CIPS Services PMI is 54.1. A higher value than forecast tends to be bullish for GBP/xxx pairs and bearish for xxx/GBP pairs.

Most recent - Monday 5 February 2024 09:30

Previous
53.8
Forecast
53.8
Actual
54.3

Higher numbers than forecast tend to be bullish for GBP/xxx pairs and bearish for xxx/GBP pairs.

Trading range

Forecast history

The most recent announced value for S&P Global/CIPS Services PMI was 54.3 against a forecast of 53.8.

Past events

Date
Forecast
Actual
Monday 5 February 2024 09:30
53.8
54.3
Wednesday 24 January 2024 09:30
53.2
53.8
Thursday 4 January 2024 09:30
52.7
53.4
Friday 15 December 2023 09:30
51
52.7
Tuesday 5 December 2023 09:30
50.5
50.9
Thursday 23 November 2023 09:30
49.5
50.5
Friday 3 November 2023 09:30
49.2
49.5
Tuesday 24 October 2023 08:30
49.5
49.2
Wednesday 4 October 2023 08:30
47.2
49.3
Friday 22 September 2023 08:30
49.2
47.2
Tuesday 5 September 2023 08:30
48.7
49.5
Wednesday 23 August 2023 08:30
50.8
48.7
Thursday 3 August 2023 08:30
51.5
51.5
Monday 24 July 2023 08:30
53
51.5
Wednesday 5 July 2023 08:30
53.7
53.7
Friday 23 June 2023 08:30
54.8
53.7
Monday 5 June 2023 08:30
55.1
55.2
Tuesday 23 May 2023 08:30
55.5
55.1
Thursday 4 May 2023 08:30
54.9
55.9
Friday 21 April 2023 08:30
52.9
54.9
Wednesday 5 April 2023 08:30
52.8
52.9
Friday 24 March 2023 09:30
53
52.8
Friday 3 March 2023 09:30
53.3
53.5
Tuesday 21 February 2023 09:30
48.3
53.3
Friday 3 February 2023 09:30
48
48.7
Tuesday 24 January 2023 09:30
49.9
48
Thursday 5 January 2023 09:30
50
49.9
Friday 16 December 2022 09:30
48.5
50
Monday 5 December 2022 09:30
48.8
48.8
Wednesday 23 November 2022 09:30
48
48.8
Thursday 3 November 2022 09:30
47.5
48.8
Monday 24 October 2022 08:30
49
47.5
Wednesday 5 October 2022 08:30
49.2
50
Friday 23 September 2022 08:30
50
49.2
Monday 5 September 2022 08:30
52.5
50.9
Tuesday 23 August 2022 08:30
52
52.5
Wednesday 3 August 2022 08:30
53.3
52.6
Friday 22 July 2022 08:30
53
53.3
Tuesday 5 July 2022 08:30
53.4
54.3
Thursday 23 June 2022 08:30
53
53.4
Tuesday 7 June 2022 08:30
51.8
53.4
Tuesday 24 May 2022 08:30
57.3
51.8
Thursday 5 May 2022 08:30
58.3
58.9
Friday 22 April 2022 08:30
60
58.3
Tuesday 5 April 2022 08:30
61
62.6
Thursday 24 March 2022 09:30
58
61
Thursday 3 March 2022 09:30
60.8
60.5
Monday 21 February 2022 09:30
55.5
60.8
Thursday 3 February 2022 09:30
53.3
54.1
Monday 24 January 2022 09:30
55
53.3
Thursday 6 January 2022 09:30
53.2
53.6
Thursday 16 December 2021 09:30
57
53.2
Friday 3 December 2021 09:30
58.6
58.5
Tuesday 23 November 2021 09:30
58.5
58.6
Wednesday 3 November 2021 09:30
58
59.1
Friday 22 October 2021 08:30
54.5
58
Tuesday 5 October 2021 08:30
54.6
55.4
Thursday 23 September 2021 08:30
55
54.6
Friday 3 September 2021 08:30
55.5
55
Monday 23 August 2021 08:30
59
55.5
Wednesday 4 August 2021 08:30
57.8
59.6
Friday 23 July 2021 08:30
62
57.8
Monday 5 July 2021 08:30
61.7
62.4
Wednesday 23 June 2021 08:30
62.8
61.7
Thursday 3 June 2021 08:30
61.8
62.9
Friday 21 May 2021 08:30
62
61.8
Thursday 6 May 2021 08:30
60.1
61
Friday 23 April 2021 08:30
59
60.1
Wednesday 7 April 2021 08:30
56.8
56.3
Wednesday 24 March 2021 09:30
51
56.8
Wednesday 3 March 2021 09:30
49.7
49.5

Economic context

Recent economic data has been broadly neutral for GBP. Other recent announcements which may affect the market's interpretation of the next S&P Global/CIPS Services PMI result:

PreviousLatest
Retail Sales ex-Fuel (MoM)Bullish change-3.5%3.2%
Retail Sales ex-Fuel (YoY)Bullish change-2.1%0.7%
Retail Sales (YoY)Bullish change-2.4%0.7%
Retail Sales (MoM)Bullish change-3.3%3.4%
Industrial Production (MoM)Bullish change0.5%0.6%
Gross Domestic Product (MoM)Bearish change0.2%-0.1%
Manufacturing Production (YoY)Bullish change1.9%2.3%
Manufacturing Production (MoM)(no change)0.8%0.8%
Gross Domestic Product (QoQ)Bearish change-0.1%-0.3%
Gross Domestic Product (YoY)Bearish change0.2%-0.2%
Producer Price Index - Output (YoY) n.s.aBearish change0.1%-0.6%
Core Consumer Price Index (YoY)(no change)5.1%5.1%
PPI Core Output (MoM) n.s.aBullish change-0.1%0.2%
PPI Core Output (YoY) n.s.a Bearish change0%-0.4%
Producer Price Index - Output (MoM) n.s.aBullish change-0.5%-0.2%
Consumer Price Index (MoM)Bearish change0.4%-0.6%
Retail Price Index (MoM)Bearish change0.5%-0.3%
Consumer Price Index (YoY)(no change)4%4%
Retail Price Index (YoY)Bearish change5.2%4.9%
Claimant Count ChangeBearish change5.5K14.1K
Average Earnings Including Bonus (3Mo/Yr)Bearish change6.7%5.8%
Claimant Count Rate(no change)4%4%
Employment ChangeBearish change73K72K
Average Earnings Excluding Bonus (3Mo/Yr)Bearish change6.7%6.2%
ILO Unemployment Rate (3M)Bullish change4.2%3.8%

About S&P Global/CIPS Services PMI

Country:United Kingdom
Currency:GBP
Source:IHS Markit
Category:Economic Activity
Frequency:Monthly

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