Good news for people planning to make a currency exchange!
This morning the economic data group Markit Economics released the latest Property Managers Index figures for the UK, and they revealed strong growth in the British manufacturing sector. The new figures included a 58.0 surge in November based on strong UK exports and job creation.
In fact the 58.0 level is the highest achieved since September 1994.
The PMI is measured on a scale of 100 in which a score above 50 is considered positive for the UK economy. Economists had predicted the PMI would fall last month to 54.1 – indicating growth but slower than market expectations.
Instead the positive news could help boost sterling and make a currency exchange more favourable!