The IHS Markit/CIPS UK Manufacturing PMI rose to 49.8 in January 2020 from 47.5 in the previous month and well above market expectations of 48.9, a preliminary estimate showed. The latest reading was the highest since last April and signalled a broad stabilisation of business conditions across the manufacturing sector, boosted by higher levels of new work and a slight rise in employment. In addition, output fell the least since the current phase of decline began in June 2019, while stocks of purchases dropped sharply.

Manufacturing PMI in the United Kingdom averaged 51.91 points from 2008 until 2020, reaching an all time high of 61.50 points in January of 2011 and a record low of 34.40 points in November of 2008. 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. source: Markit Economics

Manufacturing PMI in the United Kingdom is expected to be 49.90 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in the United Kingdom to stand at 49.50 in 12 months time. In the long-term, the United Kingdom Manufacturing PMI is projected to trend around 50.60 points in 2020, according to our econometric models.

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United Kingdom Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
49.80 47.50 61.50 34.40 2008 - 2020 points Monthly

News Stream
UK Manufacturing Contraction Deepens
The IHS Markit/CIPS UK Manufacturing PMI was revised slightly higher to 47.5 in December 2019 from a preliminary estimate of 47.4, but well below the previous month's 48.9. Production declined by the most since July 2012 and incoming new work decreased for the eight consecutive month, due to ongoing concerns surrounding the economic, global trade and political outlooks. In addition, employment was reduced for the ninth month in a row, albeit at the weakest pace since August, amid weaker demand, productivity gains, cost reduction initiatives, ongoing uncertainties and recruitment freezes. On the price front, input costs rose slightly for the first time in three months and output charge inflation hit a six-month high. Looking ahead, business sentiment remained positive in December, supported by reduced uncertainty, new product launches, increased efficiency and improved client confidence.

UK Manufacturing Slips Deeper into Contraction
The IHS Markit/CIPS UK Manufacturing PMI dropped to a four-month low of 47.4 in December 2019 from 48.9 in the previous month, missing market consensus of 49.3, a preliminary estimate showed. Production declined by the most since July 2012 and incoming new work decreased for the eight consecutive month, amid weaker export sales and customer destocking, alongside delays to spending decisions ahead of the general election. In addition, purchasing activity declined at the fastest rate since April 2009, due to fewer sales and planned inventory reduction, while stocks of purchases and post-production inventories also fell.

UK Manufacturing PMI Revised Higher
The IHS Markit/CIPS UK Manufacturing PMI was revised higher to 48.9 in November 2019 from a preliminary estimate of 48.3 and compared to October's final reading of 49.6. Output shrank at a faster pace and new orders fell for the seventh month in a row, with new export orders declining at one of the steepest rates over the past seven years, following the delay to Brexit and the ongoing uncertainty surrounding the political, economic and global trade situations. In addition, employment dropped the most since September 2012 due to cost reduction efforts, efficiencies, Brexit uncertainty, redundancies, natural wastage and staff restructuring. Finished goods inventories fell at the steepest rate in over two-and-a-half years, while input buying volumes fell to one of the greatest extents since early-2013. On the price front, input costs decreased for the first time since March 2016, linked to lower global commodity prices and exchange rate effects.

UK Factory Activity Contracts Further
The IHS Markit/CIPS UK Manufacturing PMI fell to 48.3 in November of 2019 from 49.6 in October, flash estimates showed. It compares with market expectations of 49. The reading pointed to the seventh straight month of contraction in the factory sector, mainly due to lower levels of output, new orders and employment amid global economic uncertainty and domestic political upheaval. Also, stocks of purchases fell the most since June 2018 due to a reversal of stock building ahead of the 31st October Brexit deadline. On the price front, input prices were broadly unchanged while output inflation slipped to a three-and-a-half year low.

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.