S&P Global/CIPS Manufacturing PMI

The PMI manufacturing released by both the Chartered Institute of Purchasing & Supply and S&P Global is an indicator of the economic situation in the UK manufacturing sector. It is worth noting that the UK service sector does not influence, either positively or negatively. Traders want the highest possible reading as that will be taken as positive for the GBP. Any reading above 50 signals expansion, while a reading under 50 shows contraction.