Latest data released by Markit - 1 March 2019
- Prior 52.8; revised to 52.6
In-line with expectations and once again, stockpiling is the key element in the report here. Stock purchases rose to 59.1 on the month - the highest among G7 countries now - and that continues to mask the softness seen in the UK manufacturing sector.
Not going to be a reading that changes the current pound outlook in the near-term as Brexit uncertainty continues to be the real underlying issue here.
Cable holds steady around 1.3240 now just off lows of 1.3231 posted earlier. EUR/GBP sits near unchanged levels at 0.8577 currently.
