Today’s fall in UK manufacturing PMI data should not come as a surprise
The lack of coherent leadership surrounding the UK’s exit from the European Union continues to bring uncertainty that is heavily corroding the confidence and ability of businesses and customers alike to make informed investment decisions in the UK.
Continued uncertainty, coupled with the fall in factory stockpiling that had propped up the index in previous months, is now taking its toll on British industry.
UK May PMI reading: 49.40
UK June PMI reading: 48.00
A reading below 50 demonstrates contraction.
Manufacturing data for China, Germany and EU
China’s manufacturing reading is also down in June. Germany’s PMI data also indicates contraction, as does data for the EU.
U.S. manufacturing data reading due later today (1st. July 2019).