- The British manufacturing PMI beats estimates with 40.6 in May.
- UK PMI services rebounded to 27.8 in May.
- GBP / USD moves above 1.2200 on optimistic data.
Manufacturing and service activities in the UK showed a slowdown in the rate of contraction in May, this preliminary report from IHS Markit showed on Thursday.
The seasonally adjusted IHS Markit / CIPS UK Manufacturing Purchasing Managers Index (PMI) jumped to 40.6 in May from 36.0 expected and 32.6 – final reading for April.
Meanwhile, Flash UK Services activity index for May was 27.8 compared to the final reading of 13.4 and 25.0 expected in April.