The economic downturn in the UK | 04 فبراير 2021

GBPUSD trading plan:

The final version of the IHS Markit/CIPS UK Composite Purchasing Managers' Index - spanning services businesses and manufacturers - fell to 41.2 in January from 50.4 in December, far below the growth threshold of 50.0. This was the index's lowest reading since May. "While the UK economy is on course to contract sharply during the first quarter of 2021, businesses remain confident that pent-up demand and an easing of pandemic restrictions will provide a springboard to recovery later this year," Tim Moore, economics director at IHS Markit, said. The PMI for the services industry alone, which accounts for the bulk of Britain's private-sector economy, fell to 39.5 in January from 49.4 in December, its lowest since May and marking a third month of contraction.

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