June 2015 UK Markit CIPS manufacturing PMI 51.4 vs 52.5 exp

Details of the June 2015 UK Markit CIPS manufacturing PMI data report 01 July 2015

• Prior 52.0
• New orders 52.8 vs 53.3 prior

Lowest manufacturing number since April 2013, new orders lowest since Sep last year

Someone fun and games in the pound over the release as usual

GBPUSD 15m chart

Anyway, Rob Dobson says that the manufacturing sector had a poor Q2 as the strong pound and weak growth in our neighbours across the channel offset strong domestic demand

I've never been one to hang everything on the currency levels as what makes exports cheap, makes imports cheap too. As a big importer we can transition those lower costs into lower selling prices

Either way, manufacturing is still sliding and while it's not a massive part of GDP it goes in the pot and we're edging ever closer to contraction

UK manufacturing PMI