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“The good news is that all three of the monthly sentiment surveys – manufacturing, construction and services – all came in above the 50 mark, to suggest future growth says Russ Mould, AJ Bell Investment Director.
“The bad is that only construction rose in December, to imply a patchy end to 2015 and start to 2016. It is also clear that Chancellor George Osborne still has a long way to go if he is achieve his goal of rebalancing the economy away from debt-based consumption and a reliance upon house building and house prices.
“Today’s services purchasing managers’ index (PMI) fell to 55.5 in December from 55.9 in November, marginally below the 2015 average of 56.6.
“By contrast, data released earlier this week showed that construction rose to 57.3, while manufacturing fell to 51.9. Both also came in marginally below their averages for the year as a whole (see Chart).”
Source: CIPS/Markit
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