UK Manufacturing PMI Just Hit A 16-Year High

David Cameron

Once again, how happy is the UK that it never joined the currency union?

If it had, there’s little doubt that thanks to its oversize banking sector, it’d be facing the same constraints as its neighbour ireland.

As it is, it’s managing decently, it hasn’t imposed austerity (just talked about it, really), and its economy is humming.

The UK manufacturing PMI came in at 58, its highest reading since September 1994, and well ahead of expectations.

It’s PMI day. Be sure to check out Credit Suisse analyst Jonathan Wilmott liveblogging the various releases over at FT Alphaville.

Some other ones we’ve highlighted: Spain (very weak) and China (hot, and probably too hot).

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