UK Manufacturing PMI seen lower at 47.5 in August – TD Securities

Amid looming Brexit risks, the UK manufacturing sector activity is likely to see a mild deterioration in August, as cited by the TD Securities (TDS) analysts.

Key Quotes:

“GBP We expect the manufacturing PMI to slip a bit further to 47.5 in August (mkt 48.4).

While the weaker currency may provide some support for some manufacturers, the odds of a no-deal Brexit have risen through the summer, and we believe that will be the bigger factor for manufacturers.”