UK economic numbers continue to stun in how good they are.
The latest example is the PMI manufacturing report, which just came out today.
The headline number spiked from 56.4 to 58.5, roundly beating expectations.
Some of the internal numbers are just stunning. Here’s the stub summary from Markit:
See that? Production and New Order growth measures are at 19-year highs.
The UK had a severe slump and a very mediocre recovery, in part due to the austerity measures of the Cameron government, and also in part because of its exposure to Europe.
Now the UK has three cylinders going for it: The Eurozone recovery, the fading of the austerity, and a central banker who (Mark Carney) who is viewed as having a more robust approach for helping the country. Meanwhile, London is at the center of another real estate and financial boom, further helping the overall economy.
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