United Kingdom PMI December 2016

United Kingdom

United Kingdom: Manufacturing PMI jumps in December

January 3, 2017

The manufacturing IHS Markit/CIPS Purchasing Managers’ Index (PMI) jumped from 53.6 in November to 56.1 in December, the highest reading since June 2014. The index remains well above the 50-point threshold that separates expansion from contraction in the manufacturing sector.

December’s increase in overall operating conditions was due to an improvement in domestic and overseas demand. Moreover new orders grew and new export business rose for the seventh consecutive month in December. According to HIS Markit/CIPS analysts, “this fizz in new orders signals good news for UK manufacturers which has previously been hit by uncertainties following the EU referendum, and the sector looks set to reach a more robust growth path at the start of 2017.”

FocusEconomics Consensus Forecast panelists see fixed investment remaining unchanged in 2017, which is up 0.2 percentage points from the previous month’s estimate. For 2018, the panel expects fixed investment to drop 2.1%.

Author:, Senior Economist

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United Kingdom PMI Chart

United Kingdom PMI December 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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