1 May 2015
Downside risks to UK manufacturing PMI – TDS
FXStreet (Barcelona) - The TD Securities Research Team previews the UK Manufacturing PMI data release, anticipating a soft result, while consensus looks for a slight rise.
Key Quotes
“After pushing higher for the last three months, we look for the manufacturing PMI to hold relatively steady in April around last month’s level. Every indication is that domestic demand in the UK is still holding up well, but the softness in the Eurozone flash PMIs suggests that foreign demand may have faded a bit, preventing the UK PMI from gaining any further ground. Markets are looking for a small 0.2pt rise to 54.6, but we see slight downside risks.”
Key Quotes
“After pushing higher for the last three months, we look for the manufacturing PMI to hold relatively steady in April around last month’s level. Every indication is that domestic demand in the UK is still holding up well, but the softness in the Eurozone flash PMIs suggests that foreign demand may have faded a bit, preventing the UK PMI from gaining any further ground. Markets are looking for a small 0.2pt rise to 54.6, but we see slight downside risks.”