UK Credit Demand Remains Buoyant
Today’s data has shown that manufacturing PMI in the UK moved further into expansion, easing concerns over weak inflation. Additionally, data revealed that consumers in Britain took more credit and UK banks approved more mortgages for January, offering evidence of improving appetite among domestic consumers, especially with growth in wage earnings remaining robust.
Across the Atlantic, the ISM manufacturing PMI report for February will attract considerable attention among investors in the latter half of today’s trading session. In the Euro zone, market participants will keep tabs on today’s preliminary consumer price inflation data for February, particularly after German inflation numbers surpassed market expectations last week.