UK factories shed workers as higher costs and weaker spending pound finances May 2, 2023 British factories are shedding workers after being pounded by soaring costs and weaker spending from customers, according to a closely-watched survey. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) for the UK manufacturing sector came in at 47.8 points last month, above an earlier reading of 46.6 [...]
Services sector reaches 13-month high but UK growth ‘lopsided’ as consumers raid the storecupboard April 21, 2023 Growth of Britain’s services sector has reached a year-high in April, a closely watched survey has revealed. Figures released this morning in S&P Global/CIPS flash UK purchasing managers’ index, show output rose to 53.9 in April from 52.2 in March. The survey showed that private sector growth had increased for the third consecutive month, beating [...]
Is HS2 holding up the UK’s construction industry? Output up but housebuilding continues to fall April 6, 2023 Civil engineering rose at its highest level since 2009 in March, according to a leading global index which measures the monthly construction output of the UK economy. At 50.7 in March, the headline seasonally adjusted S&P Global /CIPS UK Construction Purchasing Managers’ Index (PMI) – which measures month-on-month changes in total industry activity – was [...]
UK economy: Flat services sector could ease fears of more interest rate hikes although recession fears still loom April 5, 2023 The British services sector continued its recovery from recent woes as it expanded again in March, although more slowly than in February meaning recession still stalks the UK economy. The S&P Global/CIPS UK services PMI survey showed a reading of 52.9 last month, down from a score of 53.5 in February. Experts had forecast that [...]
UK economy on tightrope between recession and growth as exports slip but inflationary pressure eases in March April 3, 2023 Manufacturing fell in March, although fears the UK economy is entering a recession may be premature as inflation eased and average supplier lead times improved. The seasonally adjusted S&P Global /CIPS UK Manufacturing Purchasing Managers’ Index fell to 47.9 in March, down from February’s seven-month high of 49.3 and an earlier flash estimate of 48.0. [...]
British factories on the mend as recession u-turn gathers pace March 1, 2023 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 February 21, 2023 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 February 6, 2023 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 [...]