5 October 2023 UK Monitor Composite PMI Still Too Gloomy, Despite the Big Upward Revision
3rd Oct 2023 19:24U.K., Daily Monitor
- The PMI points to a much milder slowdown, following positive revisions, but it still looks too gloomy to us.
- S&P’s seasonal adjustment methodology is still weighing excessively on September’s PMI reading.
- Modest GDP growth, however, won’t trigger rate hikes; job market slack is building, and price rises are slowing.
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