Regno Unito Pmi Composite

The S&P Global UK PMI Composite Index rose to 54.0 in April 2024 from 52.8 in March, marking the strongest growth in business activity since May 2023. Robust recovery in service sector output (PMI at 54.9 vs 53.1) helped to offset a marginal decline in manufacturing production (PMI at 48.7 vs 50.3). Output growth was supported by a solid upturn in new order volumes and a modest acceleration in staff hiring, in each case driven by the service economy. April data indicated a steep increase in average cost burdens across the private sector, with the rate of inflation up sharply from March and the highest since May 2023. Stronger input price inflation was overwhelmingly linked to higher staff wages, particularly in the hospitality and leisure sector. Many survey respondents noted pressure on labour costs from a near 10% annual increase in the National Living Wage and an indirect impact on pay awards to other employees.