020 7898 0500The main release of yesterday was the Markit services PMI data for December 2017. Following a pretty mixed week for PMI data, attention was focused on this release to gain an accurate measure of how the UK economy fared towards the end of last year. The figure came in at 54.2 which was a healthy increase from the 53.8 from the month before, and above a forecast of 54.1.
Nationwide also released their housing prices for the end of last year which showed that the average house price in the UK rose by 2.6% in 2017. However, somewhat surprisingly, the average house price in London fell by 0.5%. Despite this reading, the average house in London still costs some £470,000 which is more than twice the national average.
It was a mixed day for the pound as it strengthened against the dollar but weakened against the euro. Today sees the release of new car sales for December.
