09:30 AM BST, United Kingdom - PMI Data for May:
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S&P Global Manufacturing PMI: actual 46.4; forecast 45.1; previous 45.4;
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Create account Try a demo Download mobile app Download mobile appThe UK manufacturing sector remained under pressure in May 2025, with the PMI rising slightly to 46.4 from 45.4, still well below the 50 threshold that indicates growth. Output, new orders, exports, and employment all declined, reflecting weak global demand, continued trade uncertainty, and higher employer costs due to increased National Insurance and minimum wage rates.
Small manufacturers were hit hardest, showing the sharpest declines and weakest confidence levels. Although inflation in input and output prices eased, overall business sentiment remained subdued. Some positive signs emerged, with slower rates of decline in orders and output suggesting a possible stabilisation ahead.
The British pound was one of the best-performing G10 currencies against the US dollar in May, although it traded within a narrow range last week. Despite a slight improvement in the PMI, the UK manufacturing sector remains under pressure, which helps explain the lack of strong momentum in the GBP/USD pair. (Source: xStation)
