{"id":88356,"date":"2023-08-23T15:20:22","date_gmt":"2023-08-23T11:20:22","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=88356"},"modified":"2023-08-23T15:20:24","modified_gmt":"2023-08-23T11:20:24","slug":"uk-preliminary-services-pmi-enters-contraction-with-48-7-in-august","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/uk-preliminary-services-pmi-enters-contraction-with-48-7-in-august\/08\/23\/market-updates\/","title":{"rendered":"UK Preliminary Services PMI enters contraction with 48.7 in August"},"content":{"rendered":"\n<p>The seasonally adjusted S&amp;P Global\/CIPS UK Manufacturing Purchasing Managers&#8217; Index (PMI) fell further in August to 42.5 from 45.0 predicted and 45.3 in July.<\/p>\n\n\n\n<p>Meanwhile, the Preliminary UK Services Business Activity Index fell to a seven-month low of 48.7 in August, compared to a final print of 51.5 in July and a market estimate of 50.8.<\/p>\n\n\n\n<p>Chris Williamson, Chief Business Economist at S&amp;P Global Market Intelligence, commented on the flash PMI data, saying, &#8220;A renewed contraction of the economy already looks inevitable, as an increasingly severe manufacturing downturn is accompanied by a further faltering of the service sector&#8217;s spring revival. The survey is indicative of GDP declining by 0.2% over the third quarter so far<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The seasonally adjusted S&amp;P Global\/CIPS UK Manufacturing Purchasing Managers&#8217; Index (PMI) fell further in August to 42.5 from 45.0 predicted and 45.3 in July. Meanwhile, the Preliminary UK Services Business Activity Index fell to a seven-month low of 48.7 in August, compared to a final print of 51.5 in July and a market estimate of &hellip;<\/p>\n","protected":false},"author":9,"featured_media":31846,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[6863,6835],"class_list":["post-88356","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-covid-19-2","tag-uk"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=88356"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88356\/revisions"}],"predecessor-version":[{"id":88357,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/88356\/revisions\/88357"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31846"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=88356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=88356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=88356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}