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The UK is booming!
That's hardly the case but this data confirms a solid end to the year.
In the Nov IP report I wrote this;
"Very good numbers from UK industry. We've already seen that the year could be ending well in manufacturing via the Dec PMI.
This one lags those by a month so we should (on paper) see this sustained."
The Jan PMI then dropped a tad to 55.9. If we draw the same conclusion again, (on paper) Jan should at least keep these gains but that makes the bigger risk that they don't. IP should hold up as we had quite a cold snap in Jan so that should keep things like energy production high.
We can never draw direct conclusions from one piece of data to another but we can get half an idea monitoring different data points.
This data is unlikely to send the pound into orbit as it is lagging but overall for the UK economy, it keeps things ticking along nicely.
For now Gbp doesnt seem to be affected at all. But we are in a good position to go long when the time is right.
That's hardly the case but this data confirms a solid end to the year.
In the Nov IP report I wrote this;
"Very good numbers from UK industry. We've already seen that the year could be ending well in manufacturing via the Dec PMI.
This one lags those by a month so we should (on paper) see this sustained."
The Jan PMI then dropped a tad to 55.9. If we draw the same conclusion again, (on paper) Jan should at least keep these gains but that makes the bigger risk that they don't. IP should hold up as we had quite a cold snap in Jan so that should keep things like energy production high.
We can never draw direct conclusions from one piece of data to another but we can get half an idea monitoring different data points.
This data is unlikely to send the pound into orbit as it is lagging but overall for the UK economy, it keeps things ticking along nicely.
For now Gbp doesnt seem to be affected at all. But we are in a good position to go long when the time is right.
