3 Jul 2013
Flash: UK PMI surged - TD Securities
FXstreet.com (London) - Marcin Budiewicz in Research for TD Securities said that services PMI surged from 54.9 to 56.9 in June, printing significantly above the consensus estimate of 54.5.
“The details were strong, providing a strong foundation to the headline print. In particular, we saw a further improvement in new business driven by a rise in sales volumes.” The research team noted the increase in new business was so strong, that they reported labour shortages and an increase in the backlog of orders (the sharpest in 6 years) as they couldn't keep up and increased hiring further.
“The details were strong, providing a strong foundation to the headline print. In particular, we saw a further improvement in new business driven by a rise in sales volumes.” The research team noted the increase in new business was so strong, that they reported labour shortages and an increase in the backlog of orders (the sharpest in 6 years) as they couldn't keep up and increased hiring further.