United Kingdom PMI August 2022

United Kingdom

United Kingdom: Composite PMI drops to over one-year low in August

August 23, 2022

The S&P Global/CIPS Flash Composite Purchasing Managers’ Index (PMI) came in at 50.9 in August, down from July's 52.1. August's result marked the worst reading since February 2021. As such, the index remained above the 50.0 no-change threshold, pointing to a continued, albeit moderating, improvement in private sector business conditions from the previous month.

Meanwhile, the manufacturing PMI stood at 46.0 in August, down from July’s 52.1. The services PMI activity index decreased to 52.5 in August (July: 52.6). Muted demand and labor and input shortages were to blame for August’s economic slowdown. In the month, private-sector output contracted and new business and employment growth slowed. More positively, firms reported that input price pressures had eased, in line with the recent pullback in global commodity prices.

FocusEconomics panelists expect the economy to expand 3.4% in 2022, which is down 0.1 percentage points from last month’s forecast, and 0.8% in 2023.


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United Kingdom PMI August 2022 0

Note: S&P Global/CIPS United Kingdom Purchasing Managers’ Index (PMI). Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: S&P Global and CIPS.


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