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Pound dips despite UK manufacturing at its best in four years

GBPUSD News by Newsroom on 06:06 December 01, 2017 EST

The UK's manufacturing sector rose by most in four years in November according to the IHS Markit's purchasing managers' index (PMI) for the manufacturing sector jumped to 58.2 from an upwardly revised 56.5 in October. This was better than the optimist forecast and its highest level since August 2013.

There was strong growth in the sector's output, however the expansion is dwarfed by that of the sector in continental Europe, at its highest in almost two decades.

The pound lost half a cent against the dollar right after the news release and trades on early Friday just below 1.35.