UK Markit Manufacturing PMI at 51.9 in December

By FXStreet FXStreet (Mumbai) – UK Manufacturing PMI came in at 51.9 in December, down from 52.7 in November. New orders slipped at a pace that was the slowest in five months. It is below the expected 52.8. The new business index also dropped to its lowest level since July, while exports orders decline again. Factory gate prices fell for a fourth successive month.The ONS had revised down GDP growth in Q3 to 0.4% on weaker new data for the business services and finance sector.

Rob Dobson, senior economist at Markit, noted “The UK manufacturing sector ended 2015 on a disappointing note, with its rate of growth slowing further from October’s recent high back down towards the stagnation mark”.

The average readings for the headline PMI, Output Index, New Orders Index, New Export Orders Index and Employment Index in the final quarter were all above their respective averages. However, averages over 2015 were in each case below those achieved in 2014.

Manufacturing production increased for the thirty-third month running in December on higher intakes of new business from both domestic and export clients. The consumer goods sector remained the prime driver of production and new order growth, despite seeing its rates of expansion ease over …read more

Source:: FX Street