UK: Expect March Manufacturing PMI to stabilize - Barclays

The Barclays Research Team offers a sneak peek into today’s UK manufacturing PMI release, dropping in at 0830 GMT.

Key Quotes:

“We expect March Manufacturing PMI to stabilize following the decline in recent months.

Manufacturing PMI declined quite sharply after peaking at multiyear highs in November.

Despite the recent weakness indicated by Euro area flash PMIs, global trade momentum remains buoyant.

The survey was conducted from 12 to 26 March. Progress on the Brexit transition period was announced on 19 March, so the impact on corporate sentiment would depend on whether the majority of survey responses were taken prior to or after this date.

We expect service sector confidence remain stable around the average seen in the past six months. Retail sector weakness may be offset by strength in professional services as Brexit preparations continue. The survey was conducted from 12 to 27 March. Progress on the Brexit transition period was announced on 19 March, so the impact on corporate sentiment would depend on whether the majority of survey responses were taken prior to or after this date.”