UK Manufacturing PMI at 52.5 in December

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Friday, Jan 02 2015

UK Manufacturing PMI edged lower to 52.5 in December, down from 53.3 in both October and November, missing forecasts on incline to 53.7.The average PMI reading over the final quarter as a whole (53.0) was only slightly below that in the prior quarter (53.1), but nonetheless the weakest growth outcome in a year-and-a-half.

December saw rates of expansion in production and new orders ease to the second slowest for over one-and-a-half years. Price pressures also remained subdued, as input costs fell at a faster pace and selling prices moved only slightly higher.

Separate report on Net lending to individuals showed increase by £3.3 billion in November, beating market expectations on £2.6 billion increase, and compared to the average monthly increase of £3.0 billion over the previous six months. The three-month annualised and twelve-month growth rates were both 2.4%.

Sterling fell to 1.55 handle after figures were released. Pair is likely to find support around 1.5480 area and resistance near 1.5550 level. Later today, in the US session, Manufacturing PMI will be released.

More in this category: « Italian Manufacturing PMI decreased to a 19-month low US Manufacturing PMI declined to 55.5 in December »

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