UK Business Activity on the Rise

March witnessed a notable expansion in the UK's private sector activity, as per the preliminary findings from S&P Global. The composite Purchasing Managers' Index (PMI) climbed to a six-month peak at 52, marking a 1.5-point increase from February. This uplift was primarily fueled by the services sector, where the PMI soared by 2.2 points to 53.2, its highest in seven months.

Manufacturing Sector Faces Challenges

Contrastingly, the manufacturing sector experienced a downturn, with its PMI dropping 2.3 points to 44.6, a 17-month low. This divergence highlights the uneven recovery across different sectors of the UK economy.

Expert Commentary

Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, cautioned against overoptimism. "While the uptick in business activity is a positive sign ahead of the Chancellor's Spring Statement, it's premature to interpret this as a definitive recovery. The economy remains fragile, with the manufacturing slump underscoring the challenges ahead," Williamson remarked.