HomeForex UpdatesUK PMI manufacturing dropped to 55.5, but services rose to 61.0

UK PMI manufacturing dropped to 55.5, but services rose to 61.0

UK PMI Manufacturing rose dropped from 58.0 to 55.5 in March, below expectation of 57.7, a 13-month low. PMI Services rose from 60.5 to 61.0, above expectation of 58.0, a 9-month high. PMI Composite dropped from 59.9 to 59.7.

Chris Williamson, Chief Business Economist at S&P Global said: “The survey indicators point to potentially sharply slower growth in the coming months, accompanied by a further acceleration of inflation and a worsening cost of living crisis, which paints an unwelcome picture of ‘stagflation’ for the economy in the months ahead.”

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