United Kingdom PMI

United Kingdom

United Kingdom: Manufacturing PMI picks up slightly in January

February 2, 2015

The manufacturing Markit/CIPS Purchasing Managers’ Index (PMI) rose from 52.7 in December to 53.0 in January. 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.

According to Markit/CIPS, in January the marginal expansion was mainly driven by a pickup in domestic activity. In addition, the external sector also showed some signs of improvement. New export orders posted the first gain in five months. Markit/CIPS added that, “[i]t still looks as if lackluster demand from the eurozone in particular remained a headwind for British manufacturers. This could soon change, however, if quantitative easing by the ECB has the desired effect of boosting demand in the euro area.”

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 January 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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