After weakening against the euro and the dollar yesterday, the pound is starting to recover. The fall was prompted by poor PMI data, which showed that the UK manufacturing and services industries have performed worse-than-expected so far this month.
Manufacturing activity fell to a 16-month low due to supply chain disruption, the war in Ukraine and rising inflation. Services activity experienced its weakest growth since February 2021, with economic and geopolitical uncertainty contributing to a slowdown in client demand
It’s a quiet end to the week for UK data releases.
