The S&P Global/CIPS United Kingdom PMI dropped to 47.9 in August 2023 from 50.8 in July, falling below the market consensus of 50.3, a preliminary estimate showed. The latest reading pointed to the deepest pace of contraction in the country's private sector since January 2021, as service sector output contracted at the joint-fastest pace in 31 months and the manufacturing output downturn accelerated, extending the current period of decline to six months. Inflows of new business declined the most since November 2022, and backlogs of work dropped at the fastest pace since June 2020. Meanwhile, private sector employment rose only slightly and at the slowest pace since March. On the pricing front, average cost burdens increased at the slowest pace since February 2021, and the inflation of prices charged moderated to its lowest level in two and a half years. Finally, business confidence regarding year-ahead growth prospects slipped to its weakest since December 2022. source: Markit Economics

Composite PMI in the United Kingdom averaged 53.68 points from 2013 until 2023, reaching an all time high of 62.90 points in May of 2021 and a record low of 13.80 points in April of 2020. This page provides - United Kingdom Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Composite PMI in the United Kingdom is expected to be 48.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Composite PMI is projected to trend around 52.20 points in 2024 and 53.50 points in 2025, according to our econometric models.

Ok
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
Width
Height
 Preview

United Kingdom Composite PMI



Related Last Previous Unit Reference
Manufacturing PMI 42.50 45.30 points Aug 2023
Services PMI 48.70 51.50 points Aug 2023
Composite PMI 47.90 50.80 points Aug 2023

United Kingdom Composite PMI
The UK Composite PMI is a weighted average of the Manufacturing Output Index and the Services Business Activity Index.
Actual Previous Highest Lowest Dates Unit Frequency
47.90 50.80 62.90 13.80 2013 - 2023 points Monthly
SA

News Stream
UK Private Sector Output Falls Most in 2-1/2 Years
The S&P Global/CIPS United Kingdom PMI dropped to 47.9 in August 2023 from 50.8 in July, falling below the market consensus of 50.3, a preliminary estimate showed. The latest reading pointed to the deepest pace of contraction in the country's private sector since January 2021, as service sector output contracted at the joint-fastest pace in 31 months and the manufacturing output downturn accelerated, extending the current period of decline to six months. Inflows of new business declined the most since November 2022, and backlogs of work dropped at the fastest pace since June 2020. Meanwhile, private sector employment rose only slightly and at the slowest pace since March. On the pricing front, average cost burdens increased at the slowest pace since February 2021, and the inflation of prices charged moderated to its lowest level in two and a half years. Finally, business confidence regarding year-ahead growth prospects slipped to its weakest since December 2022.
2023-08-23
UK Composite PMI Revised Slightly Higher
The S&P Global/CIPS UK Composite PMI was revised slightly up to 50.8 in July 2023 from a preliminary estimate of 50.7, though below 52.8 in the prior month. The latest reading indicated a sixth consecutive month of expansion in the country's private sector, but the rate of growth was only marginal and the weakest seen over this period. A modest upturn in service sector activity (PMI at 51.5 vs 53.7 in June) contrasted with another contraction in manufacturing (PMI at 45.3 vs 46.5). UK private sector firms experienced a notable decrease in new business volumes, putting an end to a five-month period of growth. The decline was mainly attributed to a sharp fall in manufacturing order books.
2023-08-03
UK Private Sector Growth Eases to 6-Month Low
The S&P Global/CIPS United Kingdom Composite PMI fell to 50.7 in July 2023, down from 52.8 in the previous month and below the market consensus of 52.4, a preliminary estimate showed. The latest reading pointed to the weakest pace of growth in the country's private sector since a contraction was recorded in January, as service sector activity growth slowed for the third consecutive month, while manufacturing production fell the most since last December. This slowdown comes amid a combination of rising interest rates, elevated inflation, and increased caution among clients due to the uncertain economic outlook. New business volumes across the private sector stalled, ending a five-month period of expansion, and the rate of job creation eased. On the price front, average cost burdens and prices charged rose the least since February 2021. Finally, business activity expectations moderated for the third consecutive month, reaching a seven-month low.
2023-07-24