UK: Manufacturing PMI likely to decline to 52.4 in September - TDS

Analysts at TD Securities suggest that today’s release of UK’s Manufacturing PMI for September carries a small downside risks with a decline to 52.4.

Key Quotes

“This would leave it at its lowest level in over two years, and would be consistent with continued uncertainty in the manufacturing sector, as evidenced by last week's GDP release that showed business investment slowing in both quarters this year so far.”

“The Conservative Party Conference enters its second day with a session on the economy from 10-12:30 BST, featuring a speech by Chancellor Philip Hammond. Expect a few teasers of the budget, which comes on 29 October. The BoE's Tenreyro chairs a panel at the Rebuilding Macroeconomics conference at 3:50pm BST.”