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In the UK this morning, we get the latest all-sector PMI survey. This is a survey that takes a look at sentiment in every part of the UK economy – manufacturing, construction and services. It’s expected to show that activity overall is contracting, as the PMI surveys for these individual sectors have all been declining in recent months.
That said, it’s worth noting that the survey results have also been gloomier than the actual economic data indicates, which suggests that the atmosphere of political turmoil is encouraging respondents to be more pessimistic than is perhaps justified.
In the US, we get the ADP private payrolls report. This isn’t the most accurate indicator of employment in the US. However, it will be watched very closely because it serves as a warm-up act for the nonfarm payrolls figures, out on Friday. Those employment numbers are extremely important and tend to set the tone for markets each month.