The pound takes a downtrend
According to the latest data, the UK Services Business Activity Index rose from 52.9 to 54.9, while the Manufacturing PMI dropped from 47.9 to 46.6 and keeps on falling more and more below the critical 50 mark.
According to the latest data, the UK Services Business Activity Index rose from 52.9 to 54.9, while the Manufacturing PMI dropped from 47.9 to 46.6 and keeps on falling more and more below the critical 50 mark. Retail sales also showed a disappointing trend. They decreased by 0.9% against a forecast of a 0.5% drop. Recession risks and weak statistics are putting pressure on the British pound.
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