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Britain's manufacturing activity wanes

Britain's upcoming referendum regarding the nation's membership in the European Union raised concerns thus having influenced the manufacturing activity that expanded barely last month.

Britain's Manufacturing PMI to 50.1

U.K's Markit/CIPS manufacturing Purchasing Managers' Index climbed from April's 49.4 figure to 50.1 in May, amid the economists having predicted a 49.6 figure.

Based on official data, the British manufacturing did not contribute to the nation's growth for 2015, and currently for 2016.

Furthermore, the business sector, the investment spending, and June's referendum strongly influenced the economy, thus creating uncertainty.

Moreover, the economy is expected to weaken in Q2. The Bank of England stated that in the scenario where the nation exits the EU this could add more obstacles, as well as force the nation into a deeper recession.

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Wednesday, 01 Jun, 2016 / 12:17

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Source : https://www.argusfx.com/en/research-education/market-analysis/news/britain-s-manufacturing-activity-wanes

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