The S&P Global UK Manufacturing PMI fell to 51.0 in March 2026 from 51.7 in February, revised down from the preliminary estimate of 51.4 but remaining comfortably above the initial market forecast of 50.1. The data pointed to an unexpectedly resilient pace of manufacturing growth amid the outbreak of war in the Middle East, which unsettled global energy markets and weighed on growth prospects for major energy-importing economies.
Manufacturing output declined for the first time in six months as heightened uncertainty prompted firms to scale back production. However, new orders and supplier delivery times continued to align with the improving trend seen in recent months. At the same time, average input costs recorded their sharpest rise since 2022, reflecting higher prices for oil, gas, and other operations linked to commodity benchmarks. In response, around half of surveyed firms raised their selling prices. Looking ahead, mounting uncertainty undermined business confidence.
