May 1, 2012 09: 11 GMT the takeaway: UK PMI manufacturing comes to 50.5, below expected 51.5-> slows the growth of production can be contributed to the sharp decline in new export-> cable return from six months of high dropsIndex of the United Kingdom purchase managers for the manufacture of April reached 50.5, below expectations of analysts of 51.5, export of new orders were at their steepest rate since May 2009. Although the PMI is always greater than 50 and therefore considered positive, the index is low the month 51.9 last revised level.
New export orders fell because of weaker demand from continental Europe, the United States and Asia. Higher prices contributed to the decline of manufacturing in the second half of 2011, which means that the industrial recovery could be slow for some time.
PMI is a gauge that weighs the activity of production and prospects for the future. The Institute approved for purchasing and supply and Markit Economics communicates the monthly index, which is based on a survey of executives in the private sector.
It is the fifth straight month the PMI manufacturing came in above 50, signalling expansion. However, the slowdown in manufacturing growth comes a few days after a technical recession was launched in the United Kingdom when GDP was lowest reported for 2 quarters in a row.
New export orders fell because of weaker demand from continental Europe, the United States and Asia. Higher prices contributed to the decline of manufacturing in the second half of 2011, which means that the industrial recovery could be slow for some time.
PMI is a gauge that weighs the activity of production and prospects for the future. The Institute approved for purchasing and supply and Markit Economics communicates the monthly index, which is based on a survey of executives in the private sector.
It is the fifth straight month the PMI manufacturing came in above 50, signalling expansion. However, the slowdown in manufacturing growth comes a few days after a technical recession was launched in the United Kingdom when GDP was lowest reported for 2 quarters in a row.
Cable fell sharply after weak manufacturing data, falling back below the 1.6200. Yesterday, the couple made a new six-month high just below 1.6300, but retracted earlier today. EUR/GBP has continued its rise higher after the PMI publication, also stimulated by the Euro already climbing.
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