Details of the July 2016 UK Markit CIPS manufacturing PMI data report 1 August 2016
– Output 47.8 vs 53.6 prior
Crunch!
Not much good news to grasp in this report. Apart from all the bad news, the stand out is the jump in input prices. This could be very important. We know that the falling pound has made imports more expensive so any inflation that comes from that is imported too. However, if core or domestic prices start rising, that’s going to put some pressure on the BOE and whether they cut rates or not.