UK: No real scope for improvement in the manufacturing PMI - TDS

Analysts at TD Securities suggest that after bobbing around the 54 mark for the last 4 months, they don't see any real scope for improvement in the UK’s manufacturing PMI, and look for a small decline to 53.8 in August (mkt: 53.9).

Key Quotes

“The sector seems to have lost momentum this year, and with growing talk recently of a no-deal Brexit, we look for manufacturers to continue to remain cautious.”

“The one positive development for exporters would be the decline in GBP over the summer, which should help to support sentiment to some degree.”