Latest data released by Markit/CIPS - 3 May 2019
- Prior 48.9
- Composite PMI 50.9 vs 50.6 expected
- Prior 50.0
The headline reading improves and gets out of contraction territory but the details aren't so pretty. New orders continued to shrink, recording a print of 49.0, and is now on its longest run of contraction readings since 2009. Markit notes that the April PMIs recorded overall is consistent with the UK economy stagnating.
That basically sums it up as there aren't much positives to take away from the report here but at the same time, there isn't anything to get too worried about on the immediate horizon - other than the fact that the economy is continuing to limp of course.
Cable is barely moved on the release here, trading at 1.3023 currently. EUR/GBP is also at flat levels at 0.8574.
