UK manufacturing production to decline by -0.2% - TDS

Analysts at TDS are looking for the UK manufacturing production to decline by -0.2% m/m for December (mkt +0.3%), which would be its first decline since March 2017.

Key Quotes

“The primary driver would be the substantial fall in UK auto production during the month, but the deterioration in the manufacturing PMI since its cyclical high in November also points to downside risks. For construction activity we’re a bit more upbeat in looking for a 0.2% gain in December (mkt -0.1%), but the sector overall still continues to underperform the broader economy. We also get trade data, where markets are looking for the visible trade balance to improve from -£12.2bn in Nov to -£11.6bn in Dec. The BoE'sCunliffe also speaks today from California at 4:45pm GMT.”