UK services PMI at 47.9, below expectations
The UK’s flash services PMI came in at 47.9, missing the expected 51.7. This decline follows a prior reading of 52.7.
The manufacturing PMI fared slightly better, coming in at 53.7, just above the expected 53.0, and unchanged from the prior reading of 53.7.
The composite PMI stood at 48.5, also below the expected 51.6, and down from the prior 52.6.
Other firms face challenges, with X facing a $465K fine and risk looming for similar firms, while consumer discretionary stocks lag the S&P 500.