PMI Release June 2012
11 June 2012
Growth of Scotland’s private sector lost momentum in May according to the latest Bank of Scotland PMI report. Output levels and new business rose marginally, while employment was unchanged following robust increases in the preceding three months. One bright spot for firms was a further reduction in input cost inflation to the weakest for over two-and-a-half years.
Highlighting a slowdown in the rate of growth of Scottish private sector activity, the Bank of Scotland PMI – a seasonally adjusted index monitoring activity across Scotland’s manufacturing and service industries – fell from 53.5 in April to 50.8. The marginal increase in output was the weakest in the ongoing sequence of expansion that stretches back to January 2011.