UK Flash PMIs (Jan)
Manufacturing: 47.3 vs. Exp. 46.7 (Prev. 46.2)
Services: 53.8 vs. Exp. 53.2 (Prev. 53.4)
Composite: 52.5 vs. Exp. 52.2 (Prev. 52.1)
The survey data point to the economy growing at a quarterly rate of 0.2% after a flat fourth quarter, therefore skirting recession and showing signs of renewed momentum. This allows BOE to be more flexible to keep rates higher for longer.
Source: xStation
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