The Chartered Institute of Purchasing and Supply (CIPS), Purchasing Managers' Index (PMI) measures the activity level of purchasing managers in the manufacturing sector.
Any reading above 50 indicates expansion, while a reading below 50 indicates contraction.
It gives an indication about the health of the manufacturing section and production growth in the UK. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
Previous: 62.00
Expected: 61.50
Any reading above 50 indicates expansion, while a reading below 50 indicates contraction.
It gives an indication about the health of the manufacturing section and production growth in the UK. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
Previous: 62.00
Expected: 61.50
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