UK services PMI rises to 53.4 in December, better than expected

UK services PMI rises to 53.4 in December, better than expected

The British composite PMI, which includes services and manufacturing, rose to 52.1 from 50.7 in the same period, the highest level since June.

The UK Services Purchasing Managers' Index (PMI) rose to 53.4 in December from 50.9 in November, reaching its highest level since June, according to final data released by S&P Global in association with CIPS this Thursday ( 4 ).

December's firm number was 52.7, in both cases, above the preliminary reading and analysts' forecast, according to the Refinitiv consensus.

The British composite PMI, which includes services and manufacturing, rose to 52.1 from 50.7 in the same period, hitting its highest level since June and beating the initial estimate of 51.7.

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Gains above the 50 mark indicate British economic activity is expanding at a strong pace.

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