UK: Manufacturing PMI to hold onto last month’s gains - TDS

Analysts at TDS are looking for the UK manufacturing PMI to hold onto last month’s gains, after April saw a substantial upside surprise with the PMI rising to a 3-year high of 57.3.

Key Quotes

“With new orders also looking strong, we look for the PMI to hold up with just a small pullback to 57.0 (mkt 56.5). Since consumer spending is looking softer, the UK will need to see more growth from the manufacturing sector to compensate, which should be supported by a softer pound and stronger foreign demand.”