United Kingdom PMI

United Kingdom

United Kingdom: Manufacturing PMI slightly improves in November

December 1, 2014

The manufacturing Markit/CIPS Purchasing Managers’ Index (PMI) inched up from 53.3 in October to 53.5 in November, thus reaching the highest level since July. The index remains above the 50-threshold that separates expansion from contraction in business conditions, where it has remained since February 2013.

According to Markit/CIPS, November’s result marks a good start for the final quarter of the year. The pickup in the manufacturing sector came on the back of an improvement in domestic demand, while new export business continues to decline. Markit/CIPS added that “[a]lthough the pace of expansion remains below that seen at the start of the year, suggesting the sector will remain only a modest contributor to broader economic growth, it is positive to see the sector break its recent sequence of slower growth. Continued growth of employment, especially at SMEs, suggests that the recovery in the labour market is holding sway.”

FocusEconomics Consensus Forecast panelists see fixed investment rising 8.3% in 2014, which is unchanged from the previous month’s estimate. For 2015, the panel expects fixed investment to increase 6.4%, which is down 0.5 percentage points from last month’s estimate.

Author:, Senior Economist

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United Kingdom PMI Chart

United Kingdom PMI November 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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