UK: Services PMI close to contraction territory - TDS

Analysts at TD Securities point out that the UK’s Services PMI edged perilously close to contraction territory, at 50.1 in January, while the overall Composite PMI sits at 50.3.

Key Quotes

“New work declined outright for the first time since mid-2016 and hiring fell for the first time in over 6 years. Activity was broadly flat, with financial intermediation and transportation the worst-performing sectors. January's index is the second-worst on record since 2012.”