UK Manufacturing Purchasing Managers Index (In 2Mins) Today’s update offers an early look at Britain’s macro profile for August. Recent data sends a clear signal that the economy is growing at a solid pace. The recent recession, in sum, is history. The encouraging trend in the UK, by the way, also looks quite a bit stronger compared with early evidence for optimism on Europe’s business cycle. The services and manufacturing sectors in Britain have posted impressive rebounds in recent months, according to PMI survey data. There’s also credible signs of recovery in the hard numbers, including a higher pace of growth in retail spending, a substantial rise in housing prices, and a persistent fall in the number of workers claiming jobless benefits this year. No wonder that Britain’s stock market has trended higher—the FTSE 100 is up nearly 9 percent in 2013 through August 31. Overall, it’s safe to say that the positive momentum in the UK economy is strong and broad enough to anticipate that growth will prevail for the near term. Today’s release will probably reconfirm this increasingly obvious message, and in the process lay the groundwork for expecting that the August numbers will fall in line with the recent trend as the macro updates arrive in the week ahead. tradingfloor/images/blog/medium/078ef05c-8d78-4fbc-bdcc-df871a2e51d8.png
Posted on: Mon, 02 Sep 2013 08:29:25 +0000
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