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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United KingdomUnited Kingdom Markit/CIPS Manufacturing PMI fell to 55.5 in February 2022
FMPMonthlyReleased March 2022
United Kingdom Markit/CIPS Manufacturing PMI fell to 55.5 in February 2022, released March 2022, down 2.5 from January's 58 reading. The reading matched the 56.7 consensus.
Latest Release
55.500000
Actual
56.700000
Consensus
58.000000
Previous
Median Absolute Error
±0.56
across last 12 releases
Last Call
Mar 2022
Predicted: 56.75
Actual: 55.5
Error: +1.25
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 Manufacturing PMI (United Kingdom) was reported at 55.50 in February 2022. This missed the market consensus of 56.70 by 1.20. The reading fell from the previous value of 58.00. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 56.93, down from the prior three at 57.37.
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 0.56.
Auto-generated from current model state · Refreshes on each release · Last update March 2022.
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Markit/CIPS Manufacturing PMI - UK
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About Markit/CIPS Manufacturing PMI — United Kingdom
DEFINITION
The Markit/CIPS Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in the United Kingdom. It is based on a monthly survey of purchasing managers from various industries, providing valuable insights into the overall health and growth of the manufacturing industry. This indicator is closely monitored by investors, policymakers, and businesses as it can signal changes in economic activity and inform decision-making.
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 55.5, consensus 56.7. Prior reading (Feb 2022): 58. Before that (Feb 2022): 57.3.
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 bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with GBP/USD (Bullish GBP, r=0.50) — a useful reference for forex-focused traders.
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EXPECTED ZONE
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