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U.K. manufacturing PMI jumps to 51.4 in December, January 2 2013

ForexZig.com January 2, 2013
U.K. manufacturing PMI

U.K. manufacturing

U.K. manufacturing activity was increased in December at the fastest rate since September 2011, as this day industry data showed that new orders had been released.

In a official report, market research group Markit announced that its U.K. manufacturing PMI jumped to a seasonally adjusted 51.4 in the previous month, comparing to the a revised reading of 49.2 in November.

Experts made prognosis that the manufacturing PMI will remain stable at 49.2 in December.

On the index, a reading above 50.0 would indicate an industry expansion, however, reading below will be a sign for contraction.

Making a comment on the report, Rob Dobson, who is senior economist at survey compiler Markit, announced that the „domestic market remained the main spur for growth of production and new orders in December, although there are also signs that global trade flows are stabilizing as China and the U.S. strengthen and the downturn in the Eurozone eases”.

Coming after the release of the data, the pound held on to gains against the American dollar, with GBPUSD trading at 1.6330, gaining 0.53% .

At the same time, European stock markets were still higher. The EURO STOXX 50 rallied 3%, France’s CAC 40 gained 1.7%, London’s FTSE 100 moved up with 1.6%, while Germany’s DAX increased with 2%.

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