Latest data released by Markit - 1 August 2019
- Prior 48.0
The print here is a little better-than-expected but remains unchanged from the June reading, which is the weakest since February 2013. Looking at the details, the output component falls further from 47.2 in June to 47.0 in July making it the weakest since July 2012.
Of note, Markit is also reporting that some firms have noted that clients are moving their supply chains away from the UK ahead of Brexit and that certainly isn't a good omen of things to come in the manufacturing sector in the medium-to-long-term.
The pound still holds weaker on the day against the dollar, with cable sitting at 1.2115 and is little changed on the release here. EUR/GBP is more steady at 0.9115, near unchanged levels on the day so far.
