UK Manufacturing PMI’s vs global soft patch – TDS

FXStreet (Guatemala) – Analysts at TD Securities explained key data events coming up int he UK and highlighted Manufacturing PMI (Mon 1 June).

Key Quotes:

“UK Manufacturing PMI: Directionally, we agree with consensus that the manufacturing PMI should improve in May, but we look for a smaller than expected gain from 51.9 to 52.6, shy of the 53.0 expected.”

“Global manufacturing is going through a soft patch and the UK is not immune, in part driven by the buildup of global inventories in Q1 on the back of the unexpected contraction of US GDP and port strikes.”

“UK elections provide a wild card which may suggest scope for upside; however, April’s decline was driven by a lack of foreign demand, not domestic uncertainties.”

Analysts at TD Securities explained key data events coming up int he UK and highlighted Manufacturing PMI (Mon 1 June).

(Market News Provided by FXstreet)