Revised Index Measuring Economic Activity in the UK's Services Sector
United Kingdom| Date | Value | ||
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| Forecast | Actual | Deviation | |
| Date | Related Instruments Price Volatility | |||||
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| 1 min later | 5 min later | 10 min later | 15 min later | 30 min later | ||
The revised Services Purchasing Managers' Index (PMI) is an important indicator for assessing economic activity in the UK's service sector. This index is based on surveys conducted by IHS Markit, which collect data from purchasing managers in the service industry on new orders, inventory levels, employment conditions, delivery times, and price trends.
The PMI uses 50 as a baseline, with readings above 50 indicating expansion in the service sector and readings below 50 indicating contraction. The preliminary (flash) PMI is released at the beginning of each month, while the revised PMI is published mid-month, providing a more accurate assessment based on revisions and additional data. Although the revised PMI typically has a smaller market impact compared to the flash PMI, it is crucial for a more reliable understanding of economic trends.
Since the service sector comprises a significant portion of the UK economy, this index is a key indicator of the overall health of the UK economy. Notably, if the revised PMI shows significant changes from the flash PMI, markets will closely watch these adjustments and may revise their economic outlook accordingly.
| Date | Value | Related Instruments Price Volatility | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Forecast | Actual | Deviation | 1 min later | 5 min later | 10 min later | 15 min later | 30 min later | 60 min later | ||
