United Kingdom Composite PMI

The S&P Global UK PMI Composite Index rose to 54.1 in April 2024, exceeding the preliminary estimate of 54 and marking the sixth consecutive month of positive performance. This expansion represents the fastest growth in private sector business activity since April 2023. The service sector showed a robust and accelerated upturn with a PMI of 55, driving the overall output growth. However, manufacturing production dipped slightly to 49.1. Service providers reported a quicker rise in order books, while goods producers saw a decline. Input costs rose for both sectors in April, resulting in the strongest overall input price inflation since July 2023. Despite this, output charge inflation slightly decreased from March, although factory gate price inflation reached an 11-month high.