The IHS Markit/CIPS UK Composite PMI rose to 52.4 in January 2020 from 49.3 in the previous month and beating market expectations of 50.6, a preliminary estimate showed. The reading pointed to the first expansion in the private sector in five months and the steepest in nearly one-and-a-half years, as services activities grew at the fastest pace in 16 months (PMI at 52.9 vs 50 in December) and manufacturing output rose to an 8-month high (PMI at 49.8 vs 47.5 in December) amid reduced political uncertainty following the general election. New work advanced at the sharpest rate since September 2018 and the job creation rate increased for the second consecutive month. On the price front, input cost inflation picked up to a four-month high and output prices advanced at the quickest pace since May last year. Lastly, optimism hit its highest level since June 2015, boosted by hopes that an end to domestic political indecision will have a favourable impact on investment.
Composite Pmi in the United Kingdom averaged 54.71 points from 2013 until 2020, reaching an all time high of 61.80 points in October of 2013 and a record low of 47.60 points in July of 2016. This page provides - United Kingdom Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Markit Economics
Composite Pmi in the United Kingdom is expected to be 50.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in the United Kingdom to stand at 50.00 in 12 months time. In the long-term, the United Kingdom Composite Pmi is projected to trend around 52.80 points in 2020, according to our econometric models.