Details of the March 2015 UK Markit/CIPS manufacturing PMI report
- Prior 54.1
- New orders 56.2 vs 55.0 prior
- Export orders 52.1 vs 49.5 prior
That's the highest headline read since July last year and highest exports since August
Markit report that the consumer goods sector is still the strongest performing. Selling and input prices continue to fall. We may not be the industrial powerhouse we once were but our little old manufacturing industry has now recorded 24 straight months of expansion. New orders has expanded for 25th consecutive months.
With the consumer the main driver the economy is still being pulled along by along by domestic demand. If we can start to see exports taking off this year then that will help the UK economy immensely. David Noble at CIPS see the possibility of that happening;
"Led by the domestic market, with some improved activity from export markets such as the USA, China, Germany and the Middle East, purchasing activity continued to quicken its pace, demonstrating ongoing buoyancy and confidence."
The report keeps momentum going but that's of no consequence to the pound which is in the clutches of the dollar once more and falls to 1.4791 from 1.4840
UK manufacturing PMI
