The S&P Global/CIPS UK Manufacturing PMI fell to 42.5 in August of 2023 from 45.3 in the previous month, well below expectations of 45, marking the thirteenth consecutive decline in British manufacturing activity at the sharpest rate since the pandemic-driven slump in 2020, according to a flash estimate. Data for the period showed another decline in new orders for goods, with companies citing client reluctance and lower disposable incomes for households amid higher interest rates. In turn, manufacturers experienced an accelerated downturn in production volumes, the sixth consecutive contraction, despite the renewed reduction in companies’ backlogs of work. In the meantime, lower energy and raw material prices, in combination with improved supply chains, extended the deflationary trend in input prices while lower demand for input goods decreased inventory levels. Looking forward, business activity expectations were slightly higher for goods producers. source: Markit Economics

Manufacturing PMI in the United Kingdom averaged 52.03 points from 2008 until 2023, reaching an all time high of 65.60 points in May of 2021 and a record low of 32.60 points in April of 2020. This page provides the latest reported value for - United Kingdom Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Manufacturing PMI in the United Kingdom is expected to be 43.60 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Manufacturing PMI is projected to trend around 52.90 points in 2024 and 52.50 points in 2025, according to our econometric models.

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United Kingdom Manufacturing PMI



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

United Kingdom Manufacturing PMI
Markit/CIPS UK Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 600 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.
Actual Previous Highest Lowest Dates Unit Frequency
42.50 45.30 65.60 32.60 2008 - 2023 points Monthly
SA

News Stream
UK Manufacturing PMI Falls to 3-Year Low
The S&P Global/CIPS UK Manufacturing PMI fell to 42.5 in August of 2023 from 45.3 in the previous month, well below expectations of 45, marking the thirteenth consecutive decline in British manufacturing activity at the sharpest rate since the pandemic-driven slump in 2020, according to a flash estimate. Data for the period showed another decline in new orders for goods, with companies citing client reluctance and lower disposable incomes for households amid higher interest rates. In turn, manufacturers experienced an accelerated downturn in production volumes, the sixth consecutive contraction, despite the renewed reduction in companies’ backlogs of work. In the meantime, lower energy and raw material prices, in combination with improved supply chains, extended the deflationary trend in input prices while lower demand for input goods decreased inventory levels. Looking forward, business activity expectations were slightly higher for goods producers.
2023-08-23
UK Manufacturing Sector Contracts in July
The S&P Global/CIPS UK Manufacturing PMI came in at 45.3 in July 2023, which was revised upwards from a preliminary estimate of 45.0. However, the latest reading was the lowest so far this year and tied for the weakest since May 2020, indicating a sharp deterioration in operating conditions. Both manufacturing output and incoming new business experienced further contraction, with new export business falling for the eighteenth consecutive month and at one of the quickest rates in the past three years. Additionally, employment levels declined the most in seven months, attributed to weak demand, strong competition, and efforts to protect margins. On the price front, input costs fell for the third consecutive month, and the rate of decline came close to June's 88-month record, while selling prices remained little-changed.
2023-08-01
UK Manufacturing PMI Lowest since 2020
The S&P Global/CIPS UK Manufacturing PMI fell to 45 in July 2023 from 46.5 in June and below market expectations of 46.1, a preliminary estimate showed. The reading pointed to a 12th straight month of falling factory activity and the sharpest contraction since May 2020 as output continued to decline amid lower demand and overstocking among clients. Sales and new export orders also decreased. Meanwhile, companies reported the biggest improvement in suppliers’ delivery times since records began in January 1992, amid an upturn in raw material availability, shorter lead times for critical electronics components, and increased transportation capacity. The normalisation of global supply chains helped to boost vendor performance and bring down cost pressures. As a result, manufacturers reduced their output charges for the second month running.
2023-07-24