NatWest enters into partnership with IHS Markit to deliver UK Regional Purchasing Managers’ Index® series

NatWest has entered into a new partnership with IHS Markit to deliver monthly Regional Purchasing Managers’ Index® reports across the UK.

Wednesday, June 6, 2018 12:23 pm EDT

Dateline:

London
"We are delighted to enter into partnership with IHS Markit to deliver these new UK Regional PMI reports."

• Monthly Regional PMIs offer unique data and insight for organisations and the public into regional business conditions
• New reports – first to run on June 11 – will be the first to include UK Regional export climate series
• New partnership builds on NatWest’s existing relationship with IHS Markit in Northern Ireland

NatWest has entered into a new partnership with IHS Markit to deliver monthly Regional Purchasing Managers’ Index® reports across the UK.

The programme will provide critical high-frequency data on the performance of the UK economy at a regional level and will cover England, Wales, Scotland and Northern Ireland.

PMIs are leading indicators of economic conditions. They provide an advance indication of economic developments by tracking variables such as new orders, employment and prices based on first hand interviews with panels of companies that closely represent economic sectors.

PMIs are amongst the most closely watched of all business surveys, and IHS Markit has been producing such reports for the UK since 1997.

In addition to providing unique monthly data on private sector business conditions, these new UK Regional PMI reports will also be the first to include regional export climate indexes, which will provide a valuable snapshot of the health of each region’s primary export markets.

The first Regional PMI reports from the NatWest partnership will be issued on Monday, June 11, branded NatWest in England and Wales, Royal Bank of Scotland in Scotland and Ulster Bank in Northern Ireland.

NatWest Chief Economist Sebastian Burnside, said: "We are delighted to enter into partnership with IHS Markit to deliver these new UK Regional PMI reports.

“As a bank which serves businesses and communities across every corner of the UK, we understand how important it is for companies and organisations to be able to access accurate, relevant and timely data which offers a snapshot on how their industry is performing – and how the region in which they operate is performing too.”

Luke Thompson, managing director, global head of PMI at IHS Markit, added: “We are very excited to be partnering with NatWest in this significant re-launch of our UK Regional PMIs. The surveys provide one of the only high-frequency sources of regional economic performance and I expect the involvement of NatWest in the PMIs to further enhance their scope and influence.”

ENDS

For further information please contact:

Royal Bank of Scotland
Jonathan Rennie
Media Relations
0131 626 3505
Jonathan.Rennie@rbs.co.uk


IHS Markit
Joanna Vickers
Corporate Communications
020 7260 2234
joanna.vickers@ihsmarkit.com

Notes to Editors


About NatWest
NatWest serves customers in England and Wales, supporting them with their personal, private, and business banking needs. NatWest helps customers at all stages in their lives, from opening student accounts, to buying their first home, setting up a business, and saving for retirement.
Alongside a wide range of banking services, NatWest offers businesses specialist sector knowledge in areas such as manufacturing and technology, as well as access to specialist entrepreneurial support.
NatWest has been running MoneySense, an impartial financial education programme for 5–18 year-olds, for more than 21 years. By the end of 2018, NatWest will help another 1 million young people to understand and take control of their finances.

About IHS Markit (www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions.

About PMI
Purchasing Managers’ Index surveys are now available for over 40 countries and also for key regions including the eurozone. They are the most closely-watched business surveys in the world, favoured by central banks, financial markets and business decision makers for their ability to provide up-to-date, accurate and often unique monthly indicators of economic trends. To learn more go to: ihsmarkit.com/products/pmi.