U.K’s private sector growth tumbled to a five-month low of 47.4 in November, down from 52.1 in October, according to IHS Markit’s press release. The decline was better than the forecasted 42.5, owing to a new wave of coronavirus restrictions that affected the services industry.
- The private sector remains optimistic that business activity will rise in the next 12 months on vaccine news and easing COVID-19 restrictions.
- Flash Manufacturing Output Index rose to a 2-month high of 56.3, up from October’s 55.8%.
- Flash Manufacturing PMI rose to a 3-month high of 55.2, up from October’s 53.7.
- Flash Services Business Activity Index fell to a 6-month low of 45.8, down from October’s 51.4.
- November’s Composite Output Index is the first time the index has fallen below 50.0 since June.
- Manufacturing growth was linked to sustained production recovery.
- Job losses accelerated in the private sector, some linked to the government’s extended job-protected scheme.
- The number of people visiting shops in Britain declined by 55% last week than a year earlier.
UK stocks are currently losing as the pound gains. FTSE 100 is down 0.12%, GBPUSD is up 0.50%
