Home » Currency Note » Currency Note » Currency Note GBP » GBP: UK manufacturing PMI beats forecasts

The UK manufacturing PMI jumped to 53.1 in November from 51.1 in October, which was some way above the 51.5 the markets had been expecting. The majority of the increase in demand came from domestic customers, who are rushing to stockpile important products and components in case of trade disruptions after Brexit.

It is worth noting that new orders from overseas shrank for the second consecutive month, which is the first time this has happened since November 2016. In addition, the latest manufacturing PMI reading is still among the weakest registered over the past two-and-a-half years. While growth is still forecasted for the year ahead, the confidence of UK manufacturers is now at its lowest since August 2016.

Today we will see the construction PMI reading for November, which is expected to dip a little to 52.5 from 53.2 the previous month. Bank of England Governor, Mark Carney, is also set to give a speech this morning.

Find out how we can help you

Let us know a little more about your upcoming currency exchange needs. We aim to take the uncertainty away by providing guidance on which services suit your individual requirements. You can then rest, assured your money is not at the mercy of the currency markets.

Protect against risk

Avoid losing money and protect against currencies moving against you.

Dedicated trader

Dedicated currency trader working with you to get the best value for your money.

Secure and efficient transfers

Secure, quick and efficient transfers. Authorised by the FCA.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Keep up to date

Get regular, jargon-free currency market updates delivered directly to your inbox.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Refer a friend or business

Recommend our services to your friends, family or colleagues and earn great rewards.