United Kingdom Manufacturing PMI

Last Release

Mar 31, 2024

Actual

50.3

Units In

Points

47.5

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
65.6 May 2021	32.6 Apr 2020	51.84 Points	2008-2024	Markit Economics

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.

Latest Updates

The S&P Global UK Manufacturing PMI was revised higher to 50.3 in March 2024 from a preliminary of 49.9 and above 47.5 in February. The reading pointed to the first expansion in manufacturing activity since July 2022, as output and new orders increased following year-long downturns. Factory production increased for the first time since February 2023, as output growth in the consumer goods sector more than offset downturns in the intermediate and investment goods categories. Where an expansion of production volumes was registered, this was linked to client restocking supporting a rise in new order intake. There were also other signs of stabilisation, with rates of contraction in employment and purchasing activity slowing sharply and business optimism about the year-ahead outlook hitting an 11-month high. On the price front, manufacturers saw upward pressure on both input costs and output charges.