UK S&P Global Composite PMI Flash (Mar) 51.0 vs. Exp. 52.8 (Prev. 53.7, Low. 51.3, High. 53.6)
- “The war in the Middle East has hit the UK economy in March, stalling growth while driving inflation sharply higher."
- “Inflationary pressures have surged higher on the back of rising energy prices and fractured supply chains. The acceleration in cost growth in the manufacturing sector was especially severe, being the sharpest since the depreciation of sterling following Black Wednesday in 1992."
Context
The UK's S&P Global Composite PMI Flash for March came in below expectations at 51.0, indicating stalling growth amid rising inflation pressures, primarily driven by energy prices and disrupted supply chains. This miss not only breaks the previous trend but suggests deteriorating economic conditions, which may weigh on future policy decisions regarding rates and fiscal support.
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