United Kingdom PMI

United Kingdom

United Kingdom: Manufacturing PMI inches up in June

July 1, 2014

The manufacturing Markit/CPIS Purchasing Managers Index (PMI) inched up from 57.0 in May to 57.5 in June. As a result, the index moved above the 50-threshold that separates expansion from contraction in business conditions, where it has remained since February 2013.

According to Markit/CIPS, the index remains, “elevated and sufficient to ensure the average pace over the second quarter.” UK manufacturing firms reported increased orders from Europe, Asia and the Middle East. Moreover, British companies acknowledged improving conditions in new markets resulting from the launch of new products and an overall improvement of economic conditions.

FocusEconomics Consensus Forecast panelists see fixed investment rising 7.4% in 2014, which is down 0.6 percentage points from the previous month’s estimate. For 2015, the panel expects fixed investment to increase 6.7%.


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United Kingdom PMI Chart

United Kingdom PMI June 2014

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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