Sterling Dips After Weak UK Business Activity, Retail Data
September 22, 2023
The British pound experienced a dip against both the dollar and the euro following disappointing business activity and retail data. A Purchasing Managers’ Index (PMI) survey revealed that UK companies faced a tougher September than anticipated, marking its lowest score since January 2021. Additionally, retail data showed a partial recovery in consumer spending for August, falling slightly short of economist forecasts, indicating a pattern of weak growth for the UK.
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