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)
