UK: PMI manufacturing likely to consolidate at current levels - Nomura

The headline index fell to a more than six-month low in January, though at over 55 it remains 3.5 points above its long-run average, points out the research team at Nomura.

Key Quotes

“Our forecast is for a consolidation in the headline index broadly around current levels in February as output and orders are supported by global growth and a weak currency (despite the 6% trade-weighted rally over the last six months).”