Manufacturing Production PMI (UK)
Manufacturing Fell in Contraction in May
Starts Monday, July 1, 2019 at 08:30
Updated Monday, July 1, 2019
Manufacturing production has not been steady last year, especially during the second half of 2018 as the global economy started to turn the tail. In the period from July to November, production has been declining in four months, while it only increased once in September by 0.2%. In October, November and December manufacturing production declined consistently, averaging at more that -0.6% a month. But we saw a reversal and a 0.8% increase in January. The last two reports for February and March were pretty good as well, showing a 0.9% growth each month. Although, that's due to stock piling ahead of disruptive Brexit, possibly, which will reverse in the coming months. The PMI indicator also jumped higher in those months, but in May it fell to 49.4 points mwich means contraction. Follow us for live coverage of this event by experienced market analysts.
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About Manufacturing Production PMI (UK)
Released by the National Statistics Bureau, Manufacturing Production is an aggregate measure of the U.K.’s industrial output. It is developed for month-over-month and year-over-year comparison, specifically addressing the relative strength of U.K manufacturing.The manufacturing sector represents 12-15% of the total GDP in the U.K. Being a top 10 global exporter, items such as pharmaceuticals, cars, beverages, and appliances are primary vehicles of foreign trade.Manufacturing Production is viewed by traders and investors to be a leading indicator of the U.K.’s short-term economic prowess. A high reading is perceived to be bullish toward the GBP, while a low reading is typically viewed as bearish. Volatility levels for the GBP may increase upon its public release, but Manufacturing Production is not a primary economic indicator for the U.K.