UK Gilt Yields Fall on Weaker Retail Sales, Manufacturing PMI1022 GMT - U.K. gilt yields drop following weaker-than-expected retail sales and flash manufacturing Purchasing Manager's Index (PMI) data on Friday, which raise concerns about a weakening economy just as inflation remains high. U.K. retail sales fell 0.9% month on month in March, missing the 0.6% fall expected by economists in a WSJ survey. Flash S&P Global/CIPS manufacturing PMI fell to 46.6 in April from 47.9 previously, below the 48.3 consensus by economists in a WSJ poll. The services PMI rose to 54.9 in April from 52.9 in March while the manufacturing PMI fell to 46.6 from 47.9. Analysts in a WSJ survey expected a services PMI of 52.6 and a manufacturing PMI of 48.3.

Source: Wall Street Journal April 21, 2023 22:47 UTC