The UK manufacturing PMI indicator fell four tenths in October, standing at 53.7 compared to 54.1 in September and showing the second consecutive decline. The result, in any case, has improved expectations of a decline to 53.3 points.
According to the IHS Markit publication, the sector’s rebound continues in October despite a further loss of growth momentum.
Production and new order growth slows and job losses are increasing, while business optimism is at its highest since January 2018.
GBP / USD reaction
The GBP/USD it has fallen before the data to its lowest level in a month, 1.2854, although after the publication it has recovered some ground, rising to 1.2896.
At time of writing, the pair is trading above 1.2886, shedding 0.43% on the day, heavily pressured to the downside.
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Credits: Forex Street
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