UK manufacturing and services PMI climb in November (NYSEARCA:FXB)

UK S&P Global/CIPS Manufacturing PMI rose to 46.7 in November 2023, up from 44.8 in the previous month and above market expectations of 45, a preliminary estimate showed.

Output witnessed its slowest contraction in five months, yet inflows of new work and employment levels continued declining, primarily affected by unfavorable domestic economic conditions and sluggish demand.

UK Services PMI rose to 49.5 in November of 2023 from 49.3 in the previous month, beating market expectations of a faster slowdown of 49.2.

Despite pointing to a slight improvement from the previous month, the result marked a fourth consecutive contraction in the UK services sector activity.

The S&P Global/CIPS UK Composite PMI rose to 50.1 in November 2023 from 48.7 in October, exceeding market expectations of 48.7 according to preliminary estimates. The reading indicated a stabilization of UK private sector output after marginal reductions in the previous three months.