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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United KingdomUnited Kingdom Markit/CIPS Composite PMI fell to 59.7 in February 2022
FMPMonthlyReleased March 2022
United Kingdom Markit/CIPS Composite PMI fell to 59.7 in February 2022, released March 2022, down 0.2 from January's 59.9 reading. The reading matched the 57.8 consensus.
Latest Release
59.700000
Actual
57.800000
Consensus
59.900000
Previous
Median Absolute Error
±1.33
across last 12 releases
Last Call
Mar 2022
Predicted: 58.25
Actual: 59.7
Error: -1.45
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| GBP/USD | ▲ Direct | +0.50 | FOREX | Moves with | → View |
| EUR/GBP | ▼ Inverse | −0.45 | FOREX | Moves against | → View |
| GBP/JPY | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| FTSE 100 | ▲ Direct | +0.35 | INDEX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Markit/CIPS Composite PMI (United Kingdom) was reported at 59.70 in February 2022. This beat the market consensus of 57.80 by 1.90. The reading fell from the previous value of 59.90. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 59.93, up from the prior three at 53.73.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with GBP/USD (Bullish GBP). A secondary relationship exists with EUR/GBP, negatively correlated (Bearish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 1.33.
Auto-generated from current model state · Refreshes on each release · Last update March 2022.
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Markit/CIPS Composite PMI - UK
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About Markit/CIPS Composite PMI — United Kingdom
DEFINITION
The Markit/CIPS Composite PMI is a widely recognized financial indicator that measures the overall economic health of a country by combining data from the manufacturing and services sectors. This composite index provides valuable insights into the current state of the economy, as well as potential future trends, and is closely monitored by investors, policymakers, and businesses alike. With its timely and reliable data, the Markit/CIPS Composite PMI is a key tool for assessing the performance and direction of a country's economy.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2022): actual 59.7, consensus 57.8. Prior reading (Feb 2022): 59.9. Before that (Feb 2022): 60.2.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with GBP/USD (Bullish GBP, r=0.50) — a useful reference for forex-focused traders.
Σ
EXPECTED ZONE
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