UK June Services PMI fell just over a point to 52.3 – TDS

Research Team at TDS, notes that the UK June Services PMI fell just over a point to 52.3, matching the three-year low it reached in April this year.

Key Quotes

“With 89% of the responses received prior to the 23 June referendum, this report is relatively irrelevant when it comes to the post-Brexit UK economy. MarkIt did note that with June’s PMI numbers now in, they pointed to GDP growth of about 0.2% q/q in 16Q2, which leaves the economy on a soft footing ahead of a likely 16H2 contraction in GDP.”