UK Services PMI: Slightly softer tone seen in Jan - TDS

Prashant Newnaha, Rates Strategist at TDS publishes his expectations on the upcoming UK services PMI data due later in the European session.

Key Quotes:

“Consensus is looking for the services PMI to slip from 56.2 to 55.8 in Jan. While we had initially seen a bit more upside risk and were looking for a small gain, the slightly softer tone in the manufacturing and construction PMIs earlier in the week leave us closer to consensus as we think that we could see a small decline instead.”