UK Manufacturing PMI Stays Around 34-Month Low in March

UK Manufacturing PMI Stays Around 34-Month Low in March

1 April 2016, 11:10
Roberto Jacobs
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UK Manufacturing PMI Stays Around 34-Month Low in March

The seasonally adjusted Markit/CIPS Purchasing Managers’ Index (PMI) printed at 51.00 in March missing the estimate of 51.2, but bettering the Feb figure of 50.8.

Key points

The quarterly average stayed at a relatively subdued level of 51.6, equaling the lowest recorded since the PMI first moved back above the neutral 50.0 mark in early 2013

Levels of new export business decreased for the third straight month in March

Manufacturing employment declined for the third consecutive month in March

Decrease in selling prices was driven by the pass through of lower input costs, which fell for the nineteenth successive month

(Market News Provided by FXstreet)

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