UK Manufacturing PMI unexpectedly fell in August
The performance of the UK manufacturing remained sluggish in August, as the continued strength of the consumer goods sector was again offset by lacklustre output growth at intermediate goods producers and the ongoing downturn in the capital goods industry.
The headline seasonally adjusted UK Manufacturing PMI dipped slightly to 51.5 in August, from 51.9 in July and well below the average for the current near two-and-a-half year sequence of expansion (54.2). Analysts were expecting no change.
August saw a modest increase in manufacturing production, as companies scaled up output in response to rising levels of new business. Rates of expansion accelerated to five-month highs, but remained below averages for the current upturn.
Sterling is currently being traded few points above 1.5320 level. Pair is likely to find support around 1.5280 area and resistance above 1.5370 level. Later today, in the US session, ISM Manufacturing PMI figures will be released.
Last modified on Tuesday, 01 September 2015
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