UK PMI Composite Output Index Remains Flat in December

The United Kingdom's private sector activity showed no growth in December, with the PMI Composite Output Index standing at 50.5, identical to November's figure. This data was released in a preliminary report by S&P Global and the Chartered Institute of Procurement & Supply (CIPS).

The Flash Services PMI Business Activity Index reached 51.4 in December, marking a two-month high but still lower than October's 50.4. Conversely, the Flash Manufacturing PMI dropped to 45.7, an 11-month low, down from November's 448.3.

Commenting on the figures, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, noted, "While the December PMI suggests the economy is stagnating, the decline in confidence and rise in job cuts indicate tougher times ahead. The Bank of England may hesitate to cut interest rates due to rising inflation, which could exacerbate economic downturn risks in 2025."