British factories on the mend as recession u-turn gathers pace UK economy British factories are performing better than expected in another sign the economy is on course to perform a screeching u-turn and avoid a recession, a closely watched survey has shown. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) for the UK manufacturing sector nudged higher from an [...]
Glimmers UK will avoid recession this year emerge as experts cheer return to growth in PMI uk economy Warnings that the UK is headed for a recession may have been misplaced after figures out today revealed private businesses returned to growth for the first time in half a year. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) composite flash purchasing managers’ index (PMI) for February hit 53 points, up from [...]
Bank of England aggressive rate hikes send chill through UK construction economy uk economy The Bank of England’s ten successive interest rate rises have sent a chill through the UK’s construction economy, a closely watched survey out today shows. Potential home buyers are shunning purchases due to mortgage rates flying higher, prompting house builders to rein in spending. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) [...]
UK economy stumbles behind Euro peers as risk of recession gathers pace January 24, 2023 The UK economy is falling further behind its international rivals and experts, according to a closely watched survey. The survey by economists has revealed Britain’s services industry, which generates about £2 in every £3 in the country, is shrinking at the fastest pace in two years. S&P Global and the Chartered Institute of Procurement and [...]
Recession spreads to British construction as experts brace for a jump in unemployment and the cost of living January 6, 2023 British builders are being dragged into a slump by the recession that has taken hold in the wider economy, a closely watched survey has revealed.. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) for the construction sector for December fell to 48.8 from 50.4. The reading means [...]
British factories yanked into recession by inflation, energy costs and wilting demand January 3, 2023 British factories are being yanked into recession by inflation, swelling costs and stumbling demand in a further sign the country is now in the early stages of a tough slump, a closely watched survey out today reveals. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) for the [...]
UK recession to officially begin this winter, City economists predict December 5, 2022 The UK’s recession will officially begin this winter and is likely to last for most of next year, a closely watched survey out today suggests. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) measuring private sector activity in November was unchanged at 48.2, the lowest number since [...]
Britain’s factories already in recession on ‘lethal cocktail’ of constraints December 1, 2022 Britain’s factories are already in recession sparked by demand receding as the country’s economy slumps, a closely watched survey out today reveals. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) purchasing managers’ index (PMI) inched higher to 46.5 last month from 46.2 in October. Despite the slight rise, the survey remained far [...]
UK factories in ‘survival mode’ as output tumbles to 29-month low November 1, 2022 UK factories are in “survival mode” amid a demand slump, rising interest rates and swelling costs, a closely watched survey out today shows. The S&P Global and Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) for October tumbled to 46.2, the weakest reading in 29 months when the country was grappling [...]
Growth in construction sector slows to lowest level since September as firms are hit by Omicron troubles January 7, 2022 Growth in the UK’s construction sector continued in December but slowed to its lowest since September as some firms were affected by rising Covid-19 cases. The closely followed IHS Markit/CIPS UK Construction purchasing managers’ index hit a reading of 54.3 last month, down from 55.5 in November. Any reading above 50 is seen as growth. [...]