S&P Global just released the Purchasing Managers Index Manufacturing PMI for the UK in September. The indicator has fallen to 48.4 points from the 48.5 recorded the previous month, thus extending its move into contraction territory. The market expectation was for it to remain unchanged at 48.5.
About the UK Manufacturing PMI
The Manufacturing Purchasing Managers’ Index (PMI), released by S&P Global, captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of the total GDP, the PMI is an important indicator of business conditions and economic conditions in the Eurozone. A reading above 50 points indicates expansion in economic activity, while a reading below 50 points implies a decrease in activity. Generally, a result higher than expected is bullish for the euro, while a result lower than the consensus is bearish.
Source: Fx Street
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