United Kingdom PMI March 2016

United Kingdom

United Kingdom: Manufacturing PMI improves modestly in March

April 1, 2016

The manufacturing Markit/CIPS Purchasing Managers’ Index (PMI) inched up from 50.8 in February to 51.0 in March, thus recovering from the lowest level in nearly three years. As a result, 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 March 2013.

According to Markit/CIPS, March’s slight pickup was mainly due to slight improvement in production and new orders. However, the manufacturing sector recorded job losses in March for the third consecutive month. Markit/CIPC analysts added that, “though the overall index showed a rise, the marginal increase will fuel concerns around strong supply chain continuity and any further impacts from major economic challenges such as the results of the Brexit vote.”

FocusEconomics Consensus Forecast panelists see fixed investment rising 4.0% in 2016, which is down 0.4 percentage points from the previous month’s estimate. For 2017, the panel expects fixed investment to increase 4.4%.

Author:, Senior Economist

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United Kingdom PMI Chart

United Kingdom PMI March 2016

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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