The latest manufacturing PMI figures are out and it’s more grim reading for Merkel and Macron with the Eurozone’s index falling to 47.5 in March – firmly in contraction territory and the lowest level since April 2013. Germany is rapidly becoming the sick man of Europe, its reading of 44.1 is the worst since the crisis days of 2012…

Meanwhile the UK’s own manufacturing index has surged to a 14-month high of 55.1, coming in far ahead of the forecast of 51.2. The UK could even consider giving the EU a trade deal, if they ask nicely…