UK Preliminary Services PMI rises to 51.2 in January vs. 50.6 expected

• UK Services PMI climbed to 51.2 in January, a positive surprise.
• Manufacturing PMI in the UK jumped to 48.2 in January.
• GBP/USD extends gains to near 1.2450 after UK business PMIs.

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) ticked higher to 48.2 in January from 47 in December. The data beat the market expectations of 47.1.

Meanwhile, the Preliminary UK Services Business Activity Index rose to 51.2 in January after recording 51.1 in December while coming in above the estimated 50.6 print.