UK’s PMI up in May

The seasonally adjusted Markit/CIPS PMI rose to 50.1 in May 2016, from an upwardly revised 49.4 in April, beating market expectations of 49.6. The figure came in slightly above stagnation mark, as new order inflows rose at a faster pace, boosted by domestic demand, while production volumes were broadly unchanged. In contrast, the level of new export business shrank for the fifth month in a row and manufacturing jobs, mainly from the investment goods industry, fell for the fifth straight month, although the rate of reduction eased to a three-month low and was only modest overall. Read more

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