UK Manufacturing PMI increased in January

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Monday, Feb 02 2015

UK Manufacturing PMI increased to 53.0 in January, a shade higher than December’s revised reading of 52.7 (originally published as 52.5). This was in line with market predictions.The headline PMI has remained above the neutral 50.0 mark in each month since April 2013.

Manufacturing output expanded for the twenty-third consecutive month in January, underpinned by a further increase in incoming new orders. The domestic market remained the prime driver of improved new order inflows. Solid output growth was registered at both intermediate and investment goods producers. However, the rate of growth in the consumer goods output ground to a near standstill pace.

Sterling added few points after the data and is currently being traded few points above 1.5060 level. Pair is likely to find support around 1.50 area and resistance near 1.5130 level. Later today, in the US session Manufacturing PMI figures are scheduled for a release.

More in this category: « Italian Manufacturing PMI at a four-month high US Manufacturing PMI at a one-year low »

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