Markit/CIPS United Kingdom Services Purchasing Managers Index (PMI)

Country:
United Kingdom
GBP, Pound sterling
Source:
Sector:
Business
Medium 56.3 56.8
56.8
Last release Importance Actual Forecast
Previous
56.5
56.3
Next release Actual Forecast
Previous
  • Overview
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  • Widget

Markit/CIPS Service PMI is calculated by Markit together with the Chartered Institute of Procurement & Supply (CIPS). It characterizes business conditions and purchasing managers' activity level in the UK economy's service sector.

Often purchasing managers can track changes in market conditions prior to other company employees, because purchases precede company's production activities. Purchasing managers are among the first to notice such changes. The sample for the survey is chosen so as to cover the maximum possible number of large companies across the country.

PMI calculation is based on data collected from monthly replies to questionnaires sent to purchasing executives in over 600 UK companies which provide the highest contribution to GDP. Managers are asked to characterize current business and economic conditions in the national construction sector. The questionnaire covers the following economic variables:

  • Business activity
  • New orders received
  • Backlogs
  • Prices received for produced services
  • Prices paid (for materials and services purchased in the production process)
  • Employment
  • Near-term business activity

The survey participants provide relative estimates: whether figures have increased, decreased or remain unchanged. Individual subindexes are calculated based on these answers. These subindexes characterize inflation, employment and other key indicators of economic activity.

The index is seasonally adjusted. Individual weights are given to polled companies. Readings above 50 indicate that most of respondents positively characterize current business conditions. Readings below 50 mean worsening of business conditions.

PMI is one of the most popular indexes closely watched by analysts. It provides operational information covering the entire service sector. It is interpreted as a leading indicator of production and inflation. Service PMI growth is an indication of favorable market conditions and can be seen as positive for the pound sterling quotes.

Last values:

actual data

forecast

The chart of the entire available history of the "Markit/CIPS United Kingdom Services Purchasing Managers Index (PMI)" macroeconomic indicator. The dashed line shows the forecast values ​​of the economic indicator for the specified dates.

A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values ​​of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.

Date (GMT)
Reference
Actual
Forecast
Previous
Mar 2021
56.3
56.8
56.8
Mar 2021 prelim.
56.8
49.5
49.5
Feb 2021
49.5
49.7
49.7
Feb 2021 prelim.
49.7
39.0
39.5
Jan 2021
39.5
38.8
38.8
Jan 2021 prelim.
38.8
49.6
49.4
Dec 2020
49.4
49.9
49.9
Dec 2020 prelim.
49.9
46.6
47.6
Nov 2020
47.6
45.8
45.8
Nov 2020 prelim.
45.8
51.8
51.4
Oct 2020
51.4
52.3
52.3
Oct 2020 prelim.
52.3
55.6
56.1
Sep 2020
56.1
55.1
55.1
Sep 2020 prelim.
55.1
59.5
58.8
Aug 2020
58.8
60.1
60.1
Aug 2020 prelim.
60.1
56.5
56.5
Jul 2020
56.5
56.6
56.6
Jul 2020 prelim.
56.6
47.0
47.1
Jun 2020
47.1
47.0
47.0
Jun 2020 prelim.
47.0
28.3
29.0
May 2020
29.0
27.8
27.8
May 2020 prelim.
27.8
12.8
13.4
Apr 2020
13.4
12.3
12.3
Apr 2020 prelim.
12.3
35.0
34.5
Mar 2020
34.5
35.7
35.7
Mar 2020 prelim.
35.7
53.2
53.2
Feb 2020
53.2
53.3
53.3
Feb 2020 prelim.
53.3
53.4
53.9
Jan 2020
53.9
52.9
52.9
Jan 2020 prelim.
52.9
49.4
50.0
Dec 2019
50.0
49.0
49.0
Dec 2019 prelim.
49.0
48.9
49.3
Nov 2019
49.3
48.6
48.6
Nov 2019 prelim.
48.6
49.7
50.0
Oct 2019
50.0
50.0
49.5
Sep 2019
49.5
50.9
50.6
Aug 2019
50.6
50.7
51.4
Jul 2019
51.4
50.5
50.2
Jun 2019
50.2
50.6
51.0
May 2019
51.0
49.6
50.4
Apr 2019
50.4
50.0
48.9
Mar 2019
48.9
50.6
51.3
Feb 2019
51.3
50.6
50.1
Jan 2019
50.1
50.7
51.2
Dec 2018
51.2
51.2
50.4
Nov 2018
50.4
53.0
52.2
Oct 2018
52.2
54.1
53.9
Sep 2018
53.9
53.9
54.3
Aug 2018
54.3
54.3
53.5
Jul 2018
53.5
54.5
55.1

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