04/04/2017 - UK Manufacturing Sectors Loses Momentum

GBP

UK manufacturing lost some  momentum in March, as export orders grew more slowly and demand for consumer goods weakened against a backdrop of rising inflation pressures. March's manufacturing PMI dropped to 54.2 from a  revised 54.5 figure in February. These weaker figures suggest that after months of good export levels, the inflationary effects of Brexit and the falling demand for consumer goods could be making it difficult to sustain the same levels of growth.

EUR

The eurozone's unemployment rate has continued to fall, dropping to a near eight-year low in February, at the height of the financial crisis, unemployment in the eurozone peaked at 12.1. Figures from Eurostat  showed the jobless rate fell from 9.6% in January to 9.5% - the lowest since May 2009. The lowest unemployment rates were in the Czech Republic (3.4%) and Germany (3.9%), while the highest were in Greece (23.1%) and Spain (18%).

USD

According to Markit, manufacturing growth slowed to a six-month low. New orders came in at the slowest pace since October. Markit's final purchasing manager's index fell to 53.3, below  economists forecast of  53.5. However a surge in manufacturing jobs indicated that the sector's energy-led recovery was gaining momentum.

Key Announcements 

09:30 – GBP: UK Construction PMI (Mar)

15:00 – USD: US Factory Orders (Feb)

15.30 - EUR: ECB President Draghi Speaks at Launching of The New €50 Note