UK manufacturing PMI picked up slightly to 51.0 - TDS

Research Team at TDS, notes that the UK manufacturing PMI picked up slightly to 51.0, below both their and the markets’ expectations for a pick-up.

Key Quotes

“Despite a sharp depreciation in sterling since November (which should benefit the sector), employment continues to contract in the sector, and worries about the EU referendum are likely weighing on business confidence. New business did improve, and helped support output at its previous level.”