United Kingdom PMI

United Kingdom

United Kingdom: Manufacturing PMI drops in June

July 1, 2015

The manufacturing Markit/CIPS Purchasing Managers’ Index (PMI) dropped from 52.0 in May to 51.4 in June. Despite the decrease, the index remains firmly entrenched above the 50-threshold that separates expansion from contraction in business conditions. The index has been in positive territory since February 2013.

According to Markit/CIPS, June’s result came on the back of softer rates of expansion in manufacturing production and new orders. Looking forward, Markit/CIPS added that, “export trade is also likely to remain a drag on the economy, given the uncertainty surrounding the Greek debt crisis. This makes it difficult to gauge fully any possible knock-on effects for the UK’s trade with the euro area particularly in relation to impact from the euro-sterling exchange rate.”

FocusEconomics Consensus Forecast panelists see fixed investment rising 8.3% in 2015, which is unchanged from the previous month’s estimate. For 2016, the panel expects fixed investment to increase 6.4%.

Author:, Senior Economist

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United Kingdom PMI Chart

United Kingdom PMI June 2015

Note: Markit/CIPS United Kingdom Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction.
Source: Markit and CIPS.

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