UK Preliminary Services PMI rebounds to 50.2 in May vs. 50 expected

• UK Services PMI recovered to 50.2 in May, beating expectations.
• Manufacturing PMI in the UK dropped to 45.1 in May.
• GBP/USD holds minor gains above 1.3400 after UK business PMIs.

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) dipped to 45.1 in May from 45.4 in April. The data missed the market forecast of 46 in the reported period.

more to come ...