Thursday, April 28, 2016

Forex - UK Preview: due 3rd May - Apr Manufacturing PMI survey

UK manufacturing PMI rose slightly to 51.0 in March from 50.8 previously, however the breakdown was not encouraging. Markit reported that new export business continued to disappoint due to soft global demand, and the full benefits of sterling depreciation may not be felt as higher import prices add further strain to manufacturers' margins. Additionally, firms now have to deal with the National Living Wage and any challenges the EU referendum throws at them. It is for these reasons that we look for a decline to 50.6 in April, signalling ongoing stagnation in the manufacturing sector.



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Forex - UK Preview: due 3rd May - Apr Manufacturing PMI survey Rating: 4.5 Posted by: Unknown

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