UK manufacturing PMI for November did disappoint and came out at 52.7. Although still a number that signifies expansion, the pace of is slowing and it was lower than the expectations of 53.6. Markit who conduct the survey commented that, “The UK manufacturing sector maintained its positive start to the final quarter, with November seeing growth ease only moderately from the recent peak attained in the prior survey month. However, the expansion remained firmly centered on large companies, as the trend at SMEs stayed lacklustre in comparison.”
The pound dropped and tested the recent lows but should hold its ground for the time being.