UK: Services PMI fell to 50.6 in August – TD Securities

Analysts at TD Securities note that the UK services PMI fell from 51.4 to 50.6 in August (market 51.0), making 3 out of 3 for downside surprises from the UK's PMIs for the month of August.

Key Quotes

“Markit noted that the PMIs indicate Q3 GDP of about -0.1% q/q, which would mark a technical recession in the UK. The political uncertainty around Brexit is weighing heavily on UK growth right now.”