UK manufacturing PMI: Upside risks to May's figure - TDS
|In the view of the TD Securities (TDS) analysts, the UK manufacturing PMI data is likely to rise in May amid a bounce back in the auto sector production.
Key Quotes:
“The auto sector remains the big question mark for May production, as auto production in April was down 45% y/y on early shut-downs due to the (original) Brexit deadline.
That likely led to some of last month's sizeable PMI decline, and could pose upside risks to May's figure if production bounces back as shutdowns end.
We therefore look for a gain to 54.0 (mkt: 52.4) but note that abstracting from the auto sector, the risks point to a further deterioration in the indicator.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.