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Economy in Brief

UK Sector Downdraft Still Seems to be in Play Waiting for the New Services Numbers, However ...
by Robert Brusca December 4, 2007

The NTC sector indexes for the UK show that all three main sectors have been losing traction. The new services sector observation is not yet released so the table below reflects changes through October. But for MFG and Construction there are new observations available for November. Through November, these sectors show a trend of weakness that has been moderated in November by a run up in MFG that still leaves that sector short of its September level. Construction continued to fall and it fell hard in November. In October services took a large fall leaving it in the bottom 40 percent of its range. Construction is now weaker in the lower third of its range. MFG is still in the top 35% of its range. We are eagerly awaiting the new services observation to see if that weakness remains in place or not.

MFG, Construction and Services PMI CIPS/NTC
  Monthly readings Change over: percentile
  Nov-07 Oct-07 Sep-07 3MO 6MO 12MO of range
MFG 54.32 57.41 60.25 -10.50 -3.69 -0.46 36.12
Construction 54.32 57.41 60.25 -10.50 -3.69 -0.46 36.12
Services* #N/A 53.08 56.69 -3.94 -4.17 -6.18 39.4
MFG range since January 1992; Construction Since April 1997 Services Since July 1996
*Services changes and ranking and stem from Oct-07 which is the most current date.
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