UK Purchasing Managers’ Index and Retail Sales Dropped

S&P Global announced that the Purchasing Managers’ Index (PMI) for manufacturing and services in the United Kingdom reached 57.6 in April, the lowest level in three months, down from 60.9 in March.

The PMI is still above 50, indicating that the UK corporate sector continues to expand.

The primary services PMI fell to 58.3 in April from 62.6 in March. The manufacturing PMI rose to 55.3 in April from 55.2 in March.

Meanwhile, the Office for National Statistics (ONS) reported that retail sales in the UK fell sharply in March. The number of online purchases fell. At the same time, fuel sales declined due to rising gasoline and diesel prices.

March retail sales fell 1.4% month-over-month, and revised retail sales for February fell 0.5% month-over-month, following a previously reported 0.3% decline.

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