UK Experiences Fastest Manufacturing Growth in Ten Months
UK PMI manufacturing expansion rate comes in 1.4 higher than expected -> data represents fastest manufacturing expansion in ten months -> GBP/USD reaches yearly high of 1.6060 following the report
UK Purchasing managers’ index (PMI) manufacturing numbers for March came in at 52.1, an expansion rate 1.4% higher than analysts’ expectations. It was the fastest acceleration of manufacturing growth in ten months.
Earlier today, Euro-Zone PMI manufacturing came in even with expectations, while the same report in Germany outperformed expectations. A PMI above 50 indicates that manufacturing orders are up and is a sign for positive economic outlook.
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