The IHS Markit/CIPS UK Composite PMI went up to 28.9 in May 2020 from an all-time low of 13.8 in the previous month and above market forecasts of 25, a preliminary estimate showed. Still, the latest reading signalled a far steeper pace of contraction than at the worst point of the global financial crisis, linked to business shutdowns, cancellations of customer orders and a general slump in demand amid the coronavirus pandemic. New work and employment continued to fall, with both rates of contraction the second-fastest in more than 20 years of data collection. Looking ahead, business confidence continued to improve from the series record low seen in March.
Composite Pmi in the United Kingdom averaged 53.67 points from 2013 until 2020, reaching an all time high of 61.80 points in October of 2013 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 May of 2020. source: Markit Economics
Composite Pmi in the United Kingdom is expected to be 42.00 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 51.40 in 12 months time. In the long-term, the United Kingdom Composite Pmi is projected to trend around 52.00 points in 2021 and 52.80 points in 2022, according to our econometric models.