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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

UK business activity drops to a low since July 2016

December, 16 2019
watermark Economic news

According to the IHS Markit, business activity in the UK economy declined for the second month in a row in December, with the recession being the sharpest since July 2016.

 

The Purchasing Managers Index (PMI) fell from the November level of 49.3 to 48.5 points in December, which became a minimum of 41 months.

 

The service sector PMI in December fell from 49.3 to 49 points, having reached its lowest level in nine months.

 

UK manufacturing PMI fell from 48.9 to 47.4 points, which also became the lowest indicator in four months.

 

Experts link the decline in activity with domestic political uncertainty, lack of clarity regarding Brexit and the situation in the global economy.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.