UK Markit August mftg PMI SA 1 Sept

  • 55.3 prev revised up from 55.1
  • mftg output 58.4 vs 55.8 prev

Not key data given its low GDP influence but welcome improvement all the same and algos liking the better headline .

GBPUSD 1.2930 but sellers poised between 35-55 . EURGBP still pinned around 0.9200

  • The rate of expansion in the UK manufacturing sector accelerated again in August. This was highlighted by the seasonally adjusted IHS Markit/CIPS Purchasing Managers' Index® (PMI® ) posting 56.9, up from 55.3 in July, to its second highest level in over three years.
  • All five of the PMI components - output, new orders, employment, suppliers' delivery times and stocks of purchases - were consistent with a stronger performance for the manufacturing industry during August.

Full report here