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PMI manufacturing at its highest level......>

UK DATA
UK DATA: PMI manufacturing at its highest level for six months, but the details
are discouraging.
- The Markit press release state that this is as a result of Brexit
preparations:
"The rise in the PMI level during December was mainly driven by stronger inflows
of new business and a solid increase in stocks of purchases. Movements in both
mainly reflected Brexit preparations by manufacturers and their clients."
- So this isn't reflecting an increase in underlying UK manufacturing growth,
more an uptick in Brexit preparations.
- The press release also points out that "the degree of confidence was only
slightly above November's 27-month low."

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