United Kingdom PMI

United Kingdom

United Kingdom: Manufacturing PMI improves in February

March 2, 2015

The manufacturing Markit/CIPS Purchasing Managers’ Index (PMI) rose from 53.1 in January to 54.1 in February, which was a seven-month high. As a result, the index remains above the 50-threshold that separates expansion from contraction in business conditions, where it has been since February 2013.

According to Markit/CIPS, at the outset of the year, the manufacturing sector in the UK is recovering following a slowdown seen late last year. In February, both growth of manufacturing production and new orders accelerated. Markit/CIPS added that, “the rising levels of job creation […] demonstrate that the sector is in buoyant mood this month. This is good news for the UK economy as higher staffing levels mean more opportunity for economic expansion. The consumer goods sector was the star of the show, where there were significant increases in activity and stocks of raw materials continued to rise.”

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 February 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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