TD Securities analysts are looking for a bit of improvement in the UK’s December flash PMIs, although they’re unlikely to bounce all the way back to their level of two months ago as election uncertainty continues to weigh.
Key Quotes
“We look for the manufacturing PMI to rise from 48.9 to 49.4 (mkt 49.1), and for the services PMI to rise from 49.3 to 49.8 (mkt 49.5). The January numbers a month from now will be more significant, as they’ll be the first ones that incorporate the general election results and the easing of political uncertainty. Some MPC members believe that a lifting of uncertainty will unleash a wave of pent-up demand, and BoE policy going forward will be highly data dependent.”
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