UK: Downside risks to the Manufacturing PMI - TDS

Research Team at TDS, sees downside risks to the UK Manufacturing PMI today, with a decline to 48.6 forecasted against a pick-up to 49.6.

Key Quotes

“Worries about the upcoming EU Referendum, coupled with continued worries related to the Tata steel plant, are likely weighing on the sector. Add to that a complete unwind of the currency weakness seen since the beginning of the year, and it’s likely the PMI entrenched itself further into contraction territory in May.”