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. [...]
PMI: Post-Covid bounce-back slows in August as pingdemic struck August 23, 2021 The UK economy’s post-lockdown boom stalled this month as firms continued to struggle with staff shortages, as a result of the so-called ‘pingdemic’, but strong inflation pressures eased slightly. The IHS Markit/CIPS flash composite PMI dropped for the third consecutive month, sinking to 55.3 from 59.2 in July – its lowest since February- according to the latest [...]
Demand ‘peaks’ as US services recovery slows August 4, 2021 The pace of the recovery in the US services industry slowed markedly over the last month, prompted by the initial rebound in demand triggered by the Covid unlocking easing, according to a closely watched survey. IHS Markit’s US services purchasing managers’ index for July dropped to 59.9, the lowest reading since February of this year, [...]
PMI: Eurozone business activity soars to 15-year high August 4, 2021 The rapid rollout of Covid vaccines across Europe is fuelling consumer spending, helping to propel business activity in the Eurozone to a 15-year high, according to a closely watched survey released today. IHS Markit’s latest Eurozone purchasing managers’ composite output index rose to 60.2 in July, driven by an acceleration in manufacturing growth and strong [...]