020 7898 0500Once again we saw positive data out of the UK yesterday. The UK Services Purchasing Managers Index (PMI) showed that in November activity in the country’s largest industry sector grew at its fastest pace since January, defying the outcome of the Brexit referendum.
However, there are dark clouds on the horizon as businesses reported the second-weakest level of optimism about the future in four years. This is mainly due to the unexpected result of the presidential election in the US, sterling’s recent slide in valuation and the ongoing Article 50 debate.
Article 50 is one of the hot topics again this week. Yesterday was the first day of the Supreme Court hearing of the government’s Article 50 appeal against the High Court ruling that Parliament’s consent would be needed before Brexit negotiations can begin. The hearing is expected to last four days and the verdict is due to be announced in January.
Apart from further Article 50 updates, we don’t expect any significant news or data releases today.
