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Economy in Brief

UK Service Sector Index Falls Sharply Again and May Be Signaling That More Losses Lie Ahead
by Robert Brusca December 5, 2007

The UK services PMI from NTC is falling sharply. It dropped sharply in October and again in November. Among the three key PMI sectors, manufacturing, construction and services, the services index has the weakest reading as it resides in the 32nd percentile of its range. There are only three episodes since 1998 when the services reading was weaker than it is now. Each time in the past when the service sector index fell to where it stands today, it was simply on its way to a much lower level. Be advised.

MFG, Construction and Services PMI CIPS/NTC
  Monthly readings Change over: percentile
  Nov-07 Oct-07 3MO 6MO 12MO of range
MFG 54.38 52.82 -1.61 -0.38 1.61 65.8
Construction 54.32 57.41 -10.50 -3.69 -0.46 36.1
Services 51.95 53.08 -5.60 -5.23 -7.83 32.9
MFG range since January 1992; Construction Since April 1997 Services Since July 1996
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