UK: Headline manufacturing PMI to post a modest decline to 56.0 – Lloyds Bank
Analysts at Lloyds Bank points out that the UK manufacturing PMI started the fourth quarter on a high, rising to 56.3 in October from 56.0 in September.
“Despite recent revisions to official manufacturing output data painting a better picture of health in the sector, the PMI continues to point to a more upbeat pace of activity. For November, even though the CBI Industrial Trends survey reported a rise in total orders over the month, we forecast the headline PMI to post a modest decline to 56.0. This would go some way to further narrowing the gap between the official data and the PMI survey.”