UK: Downside risks to the Manufacturing PMI - TDS

Analysts at TDS see downside risks to the March Manufacturing PMI, with a decline to 53.7 (consensus 54.4) leaving it at its lowest point since late-2016.

Key Quotes

“Spillovers from declines in the euro area manufacturing PMI, coupled with a cooling off in the CBI expected orders volume last month, are weighing on the forecast.”

“SEK: The Manufacturing PMI for March is released, and we look for the index to pull back 2 points to 57.9, leaving it at still-elevated levels. The index has moved sideways in a fairly broad 57-64 range in the last six months.”

“NOK: We look for an unchanged March Manufacturing PMI at 57.5, leaving at still relatively elevated levels. Markets look for about a 1-point decline.”