U.K. Manufacturing PMI rose more than expected

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Monday, Mar 02 2015

U.K. Manufacturing PMI rose to a seven-month high of 54.1 in February, up from 53.1 in January. Analysts were forecasting smaller incline to 53.5. By posting above 50.0, the PMI extended its run above the critical mark that separates expansion from contraction to two years.

February saw the rate of expansion in manufacturing production accelerate for the third month running to its highest since June 2014. Growth was led by the consumer goods industry, although solid expansions in output were also registered at intermediate and investment goods producers.

After the data, GBP/USD edged up slightly, with Sterling currently being traded few points above 1.5410 level. Pair is likely to find support around 1.5350 and resistance above 1.5450 level. Later today, in the US session, Manufacturing PMI figures are scheduled for a release.

More in this category: « Italian Manufacturing PMI at an eight-month high Eurozone CPI expected to be -0.3% »

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