UK manufacturing still struggles

Evidence is mounting that the recent weakness of exports is dragging down the manufacturing sector. 

It should be borne in mind that in H1 goods exports were actually very strong but the most recent business surveys hint at a downturn in that area in H2. This hasbeen clearest in the manufacturing PMI survey but the latest CBI Industrial Trends survey also points to softening external demand. 

"In this month's PMI survey the PMI is expected to decrease again from 51.5 to 51.1", says Societe Generale.