
Weekly CPA – UK Economic Update – 6 December 2024
Date Published
9 December 2024
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Author
Jennie Ward

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Summary
- The Markit/CIPS PMI for construction was 55.2 in November, up slightly from 54.3 in October, driven by the strongest rise in commercial work for two-and-a-half years.
- The Markit/CIPS PMI for manufacturing posted a nine-month low of 48.0 in November, from 49.9 in October, which signalled a second month of contraction. Four out of the five PMI components signalled a deterioration in business conditions during November.
- The Markit/CIPS PMI for services recorded 50.8 in November, down from 52.0 in October and the lowest reading for 13 months. Many service sector firms noted a growth headwind due to heightened economic uncertainty and concerns about tax raising measures announced in the Autumn Budget.
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