- Prior 57.5
- New orders 57.8 vs 60.6
GBP/USD falls to 1.6840 from 1.6870. So much for that trade plan
This PMI is coming off a very strong run, employment is still showing good gains for the 15th straight month with increases across the board in consumer, investment, SME’s and large producers.
“The UK manufacturing sector started the third quarter on a firm footing. Although cooling in July, growth rates for production and new orders remain well above their long-run trends, supporting continued solid job creation in the sector. The Bank of England will also not be overly worried by the weaker numbers. Policymakers were
expecting growth to slow slightly from the impressive rate seen in the first half of the year, in part due to expectations of higher borrowing costs next year. Importantly, the rate of growth remains historically very strong to help contribute to yet another robust expansion of the economy in the third quarter.” Said Rob Dobson at Markit
UK Markit/CIPS manufacturing PMI 01 08 2014
