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FXWire Pro Headline  |  January 3 2012 4:45 EST

UK's PMI rises unexpectedly to 49.6 in Dec


News

  • The Markit/CIPS PMI rose to 49.6 from an upwardly revised 47.7 in Nov, well above the forecasts of -47.4.
  • The UK PMI survey showed that export orders posted their first monthly rise since July; with the index rising to the highest level since April,
  • Outstanding business dropped for the 11th consecutive month, the rate of depletion was unchanged from Nov, when backlogs fell at the quickest pace since August 2009.
  • The output price index dropped to 50.8, the lowest level since Oct 2009, as input costs fell at the fastest pace since June that year.
  • BoE also expects inflation to drop sharply in 2012.

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