The data revealed by the Bureau of Statistics IHS Markit Today is Tuesday that Preliminary reading of the manufacturing PMI In Britain, it was positive and exceeded expectations, as it showed a contraction in the manufacturing sector during the current month of January, less than market expectations, as the initial reading of the index recorded 46.7 points, and despite the contraction, this reading is much better than the expectations that indicated the contraction of the manufacturing sector in Britain to 45.4 points, which is also better than the previous reading of 45.3 points recorded during the previous December.
During the same month, I registered Initial reading of the indicator PMI for the service sector In Britain, it reached 48.0 points, which is a very negative reading, as it came worse than what the markets indicated by the index’s contraction and its recording of 49.6 points during January, after Britain had recorded last month a very slight contraction in the service sector at 49.9 points during last December.
The reading is reported to be above 50 indicate This indicates a growth in activity in the manufacturing and service sectors, while a reading below 50 indicates a contraction in the sector’s activity. Usually, two readings for this indicator are issued within a week: preliminary estimates and final reading. Preliminary estimates are issued at the beginning and have the strongest impact.