The IHS Markit/CIPS UK Composite PMI dropped to 40.6 in January 2021 from 50.4 in the previous month, below market forecasts of 45.5, a preliminary estimate showed. The index was the lowest since May 2020 and much weaker than in the second national lockdown period during November (49.0). However, the speed of the downturn in UK private sector output was still softer than at the start of the pandemic (13.8 in April 2020), with many businesses citing successful efforts to adapt and prepare for new COVID-19 restrictions. Volumes of new work meanwhile decreased for the fourth consecutive month in January. Higher operating expenses, squeezed margins and lower demand also contributed to a modest acceleration in the pace of private sector job shedding in January. Finally, business expectations for the next 12 months picked up slightly since December and was the highest since May 2014. source: Markit Economics
Composite PMI in the United Kingdom averaged 53.50 points from 2013 until 2021, 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 January of 2021.
Composite PMI in the United Kingdom is expected to be 51.40 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 52.00 in 12 months time. In the long-term, the United Kingdom Composite PMI is projected to trend around 52.00 points in 2022 and 52.80 points in 2023, according to our econometric models.