UK Preliminary Services PMI inches lower to 49.2 in October vs. 49.5 expected

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• UK Manufacturing PMI rose to 45.2 in October, above expectations of 45.0.
• Services PMI in the UK fell to 49.2 in October, a downside surprise.
• GBP/USD is recapturing bids above 1.2250 on mixed UK business PMIs.

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) rose to 45.2  in October versus the 45.0 expected and, 44.3 – September’s final readout.