UK: Services PMI surged to 51.4 in July – TD Securities

Analysts at TD Securities point out that the UK Services PMI rose just over a point in July to 51.4, hitting its highest level since October 2018.

Key Quotes

“New work helped to support the sector, but businesses remain downbeat about future demand prospects. Large corporate firms reported delayed spending decisions over political uncertainty, but noted that the weaker pound had improved prospects with foreign demand.”