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U.K. Exports Rose In July as Pound Weakens


August, 02 2017
watermark Economic news

The Markit/CIPS UK manufacturing purchasing managers' index climbed to 55.1 this month from 54.2 in June. The export orders increased last month at the quickest rate since April 2010 which is the second highest rate since the start of the survey.


It was said that the weakened pound was the primary reason for this rise in exports. The Sterling rallied to a 10-month high against the greenback following the publication of the reports.


The data shows a first pickup in growth for three months where the manufacturers also gained from a robust economic growth especially in major markets such as Europe, North America, and Asia-Pacific areas.


The director Markit described the situation of the price trend rises and shown in other areas in the U.K. This would support the Bank of England to sustain its current rate until the economic development becomes more stable for medium-term.  


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.