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GBP MANUFACTURING PMI STIMULATED

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GBP MANUFACTURING PMI STIMULATED

Nov 3 2014, 1.15 GMT

Stock.com

The UK, one of the few countries in the euro zone realising any growth, saw manufacturing data rise in a surprise turn around.

Figures for manufacturing have depleted for the last 5 months, with recent retail sales figures dropping due to the unseasonal weather. The solid PMI manufacturing figure of 57.5 was left behind back in June. October’s figure was 53.2, rising from 51.5 against a forecast that predicted stagnation at 51.5. Contraction is levelled below 50.

The reasons:

A buoyant domestic market

Stronger euro-sterling exchange rate

Foreign exporters to the UK hit by stagnant EU economy

The results:

GBP was up against USD, 1.6004 up 0.0035(0.2200%) 12.49pm GMT

GBP/EUR, 1.2806 up 0.0039(0.3100%) 12.47pm GMT

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