UK Manufacturing Price Pressures Ease

U.K. manufacturing growth slowed for a second month in February and price pressures cooled, a sign that the effects of the pound’s drop may be easing.

IHS Markit’s Purchasing Managers Index fell to 54.6 from a revised 55.7, above the 50-mark dividing expansion from contraction but below economists’ expectations for 55.8.

The pound’s fall since the U.K.’s June referendum on European Union membership has had mixed effects for manufacturing, making goods cheaper for overseas buyers while also boosting costs for producers. A gauge of input prices slipped from a record high last month.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.