UK July PMIs gradual moderation but remaining strong

The Services PMI headline for the UK posted a 1.1 point fall to 57.4 in July.
 
Business expectations fell to a five-month low at 70.9. The rate of job creation notably declined (-2.2 points) to 53.8, its weakest print since March 2014. However, both remained above their long-term averages (68.0 and 50.4, respectively). Meanwhile, outstanding business rose back into expansionary territory at 52.3, with new business picking up to 58.6, notes Barclays. 

In sum, the July Services PMI points to continued gradual moderation with growth of activity "weaker than the trends shown for both the first and second quarters of 2015" although remaining strong, according to the Markit press release. Prices charged reported a slight rise to 51.7, while the input price component dropped to 54.6 (+0.7 and -0.4 points, respectively).