United Kingdom: Manufacturing PMI improves in March
April 1, 2015
The manufacturing Markit/CIPS Purchasing Managers’ Index (PMI) inched up from 54.0 in February to 54.4 in March. 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.
The monthly increase was supported by faster growth rates in both output and new orders. Despite a decrease in export orders, domestic market remains solid. According to Markit/CIPS, “with faster growth in new orders than at the beginning of the year, this increased momentum is once again attributed to the domestic market, as export orders lag behind. Though there was some growth in the Eurozone and elsewhere, this did not translate strongly enough to support increased new export orders.”
Author: Dirina Mançellari, Senior Economist