- 53.0. Revised to 53.1
- New orders 54.9 vs 54.2 prior
- New export orders 49.2 vs 51.2 prior
GBP/USD is liking the manufacturing number busting even the highest expectations to post the highest since last July. Not exactly a moon shoot but we're up to 1.5418 from 1.5403
While Rob Dobson at Markit warms to the fact that Output is now running at 0.5%, on a quarterly basis (up from 0.2% seen in Q4 2014) there's worries over a split in the manufacturing components and particularly investment
"Scratching beneath the surface and we see a lopsided upturn, with the prime driver being a strong upsurge in new orders and production at consumer goods producers while a near-stalling of demand for plant and machinery points to ongoing weak business investment. Separately, the appreciation of sterling is holding back the progress of UK exporters. It seems that, despite years of talk about a rebalancing of growth, we are still seeing only limited headway in moving away from consumerdriven expansions and towards a greater contribution from exports.
UK manufacturing PMI
