FLASH: UK manu’ PMI overtakes EA in Sep-18
- The UK’s manufacturing PMI unwound its August fall to hit 53.8 in Sep-18, aided by rebounding output and new orders.- Official manufacturing data have caught up to the surveys and still look set to trounce Q2, which was depressed by an abrupt April fall specific to the ONS data.
- IP should also gain support from further oil and gas extraction. Electricity flows on the National Grid have dipped in recent months, but the ONS data may report a belated bounce or upwards revision to July first.
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