PMI Signals Increase in the Rate of Manufacturing Contraction
The UK manufacturing economy recorded a further month of significant contraction in December. The seasonally-adjusted Purchasing Managers’ Index (PMI – a composite indicator designed to provide an overall view of the manufacturing economy) fell from 45.6 in November to 45.2 in December, its lowest level since January 1999. The PMI has now remained below the critical no change mark of 50.0 (therefore signalling contraction) since March 2001.
December Purchasing Managers’ Survey – At a Glance
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