United Kingdom PMI

United Kingdom

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.”

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 March 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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