Analysts at Nomura are looking for the UK manufacturing sector to continue to struggle a bit in April with a -0.2% decline for manufacturing production (mkt +0.3%).
Key Quotes
“While just a small fall, it would be the 3rd small decline a row, as the manufacturing sector seems to have slowed down substantially since its bigger gains last year. It also won’t be getting much support from the Eurozone, where German and French IP for April were also quite disappointing.”
“As for today’s other data, we look for the construction sector to post a 2.0% rebound (mkt 2.4%) after what was likely a mostly weather-induced fall in March, and markets are looking for the visible trade balance to improve from – £12.2bn to – £11.2bn.”
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