The typical/expected market impact of this event is low.
The consensus forecast for S&P Global/CIPS Services PMI is 47.9. A higher value than forecast tends to be bullish for GBP/xxx pairs and bearish for xxx/GBP pairs.
Lower numbers than forecast tend to be bullish for xxx/GBP pairs and bearish for GBP/xxx pairs.
The most recent announced value for S&P Global/CIPS Services PMI was 47.9 against a forecast of 51.8.
Recent economic data has been moderately bearish for GBP. Other recent announcements which may affect the market's interpretation of the next S&P Global/CIPS Services PMI result:
| Previous | Latest | ||||
|---|---|---|---|---|---|
| Retail Sales (MoM) | Bearish change | 0.6% | -1.3% | ||
| Retail Sales (YoY) | Bearish change | 1.4% | 0% | ||
| Retail Sales ex-Fuel (MoM) | Bearish change | 0.1% | -0.4% | ||
| Retail Sales ex-Fuel (YoY) | Bearish change | 1.5% | 1.1% | ||
| GfK Consumer Confidence | Bullish change | -25 | -23 | ||
| S&P Global Composite PMI | Bearish change | 52.6 | 48.5 | ||
| S&P Global Manufacturing PMI | (no change) | 53.7 | 53.7 | ||
| Consumer Price Index (MoM) | (no change) | 0.7% | 0.7% | ||
| Consumer Price Index (YoY) | Bearish change | 3.3% | 2.8% | ||
| Core Consumer Price Index (YoY) | Bearish change | 3.1% | 2.5% | ||
| PPI Core Output (MoM) n.s.a | Bullish change | 0.2% | 0.7% | ||
| PPI Core Output (YoY) n.s.a | Bullish change | 2% | 2.4% | ||
| Producer Price Index - Output (MoM) n.s.a | (no change) | 1.4% | 1.4% | ||
| Producer Price Index - Output (YoY) n.s.a | Bullish change | 3% | 4% | ||
| Retail Price Index (MoM) | Bearish change | 0.8% | 0.7% | ||
| Retail Price Index (YoY) | Bearish change | 4.1% | 3% |
| Country: | United Kingdom |
|---|---|
| Currency: | GBP |
| Source: | IHS Markit |
| Category: | Economic Activity |
| Frequency: | Monthly |