A post by @FirstSquawk on X.
UK SERVICES PMI FOR OCTOBER AT 52.8, DOWN FROM PRELIMINARY 53.1.
@FirstSquawk on X
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UK services PMI for October was revised down to 52.8 from a preliminary reading of 53.1, First Squawk reported. The downward revision signals slower-than-initially-estimated growth in the UK's dominant services sector, which accounts for roughly 80% of economic output. The reading remains above the 50 threshold separating expansion from contraction, but the softer print may weigh on expectations for fourth-quarter GDP. Markets will watch whether the revision feeds into Bank of England rate-cut expectations and upcoming UK inflation and labor data.
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