Manufacturing PMI

The UK economy underperformed many forecasters' expectations already during the opening quarter but the outlook for it darkened further this week and may mean the Bank of England (BoE) is more apt to disappoint financial markets in the months ahead, according to Pantheon Macroeconomics.

Data out of the UK economy for November came in well ahead of expectation, even if they do confirm the economy likely shrank in the same month that England went into a second lockdown.

A survey of the UK economy in October points to a rapid slowdown in activity in the wake of fresh regional lockdowns.

A survey of the UK economy covering the September period showed the rebound continues apace, even if it had slowed since August and was a little softer than market consensus had been expecting.

UK retail sales surged in June while IHS Markit PMI surveys suggested that manufacturing and services companies operating in the troubled UK economy pulled ahead of the Eurozone rivals in July, although economists have cautioned that the retail data likely overstates the broader economic recovery.  

UK manufacturers saw the rate of business expansion cool over the course of April as export orders declined and they pulled back on efforts to stockpile goods in case of a 'no deal' Brexit, however firms appear to have become increasingly optimistic on the fortunes coming months will bring.

The UK manufacturing sector rebounded from its winter lull in March after activity surged ahead of the UK's pending departure from the EU, leading economists to suggest the sector could make a larger contribution to first-quarter GDP growth than previously thought.

The manufacturing sector in the UK remained in expansionary territory in February, shows data from IHS Markit.

The manufacturing sector made a lacklustre start to 2019, as trends in output and new orders slowed and employment fell for only the second time in the past two-and-a-half years. IHS Markit also warn that the sector could be at risk of slipping into recession over coming weeks based on the evidence provided by January's survey.

UK manufacturing PMI for December read at above-consensus levels thanks to stronger inflows of new business and a solid increase in stocks of purchases.

The Pound underperformed rivals Monday even after November's IHS Markit manufacturing PMI surprised on the upside, as concerns about the latest developments in the Brexit saga weighed on the British currency.

The U.K. manufacturing outlook darkened during October, according to the latest IHS Markit PMI survey, as "trade tensions" and "Brexit uncertainty" led to a decline in new orders and employment among the nation's industrial firms.

The British Pound strengthened against its main rivals at the start of the new month thanks to a strong Manufacturing PMI reading and news that the U.K. was prepared to shift its stance on the Irish border question to seal a Brexit deal before year-end.

The British Pound is underperforming its major rivals at the start of the new week as a barrage of fresh Brexit developments combine with a some below-expectation manufacturing data.

Pound Sterling is seen struggling at the start of the week with the release of manufacturing PMI for June offering no discernible boost, despite it comfortably beating analyst expectations.

Pound Sterling advanced against its developed world rivals during morning trading Friday as markets responded to surprise increase in the IHS Markit manufacturing PMI, which came after production at the UK's manufacturers rose faster than was expected during the recent month. 

The Pound extended its slide lower Tuesday as markets responded to the latest IHS Markit manufacturing PMI, which appeared to suggest the recent economic slowdown may have extended into the second-quarter. 

The Pound extended its lead over other major currencies Tuesday after the latest IHS Markit manufacturing survey showed British industrial firms shrugging off a period of inclement weather at the beginning of last month.

UK manufacturing data comes ahead of surveys of the construction and services sectors and a key Brexit-related speech from Prime Minister Theresa May Friday. All are important for the Pound.

Thursday’s data comes closely on the heels of the final instalment of GDP data for 2017, which showed the economy regaining more of its lost momentum during the final months of the year.