PMI Release May 2012
14 May 2012
April’s Bank of Scotland PMI report signalled further solid increases in Scottish private sector output and employment. Growth was concentrated in the service sector, however, and the expansion of total activity was slightly slower than March’s recent high. Cost inflation meanwhile eased again and, although still stronger than at the UK level, was the weakest for 28 months.
At 53.5 in April, down from 54.1 one month previously, the Bank of Scotland PMI – a seasonally adjusted index monitoring activity across Scotland’s manufacturing and service industries – showed a further solid expansion in private sector output that was only slightly slower than March’s 11-month high. Behind the sixteenth straight monthly increase was a marked rise in service sector activity, with goods production falling slightly.