04 Mar 2015

UK Services PMI Slips Unexpectedly

An ease in today’s services PMI data in the UK has weakened hopes that overall activity in Britain’s private sector remained firm last month. This follows upbeat manufacturing and construction PMI readings in the nation earlier this week. Today’s less than anticipated reading has raised doubts among market participants about the strength of Britain’s economic growth for the first quarter of 2015. In the Euro zone, today’s retail sales data will be eyed for any upside surprise, especially considering yesterday’s robust German retail sales numbers. Across the Atlantic, today’s ISM non-manufacturing PMI report coupled with the ADP’s private sector employment gauge will keep investors interested in the latter half of the trading session.