UK Composite PMI Indicates Economic Growth in March

The United Kingdom's economic landscape showed signs of improvement in March, with the PMI Composite Output Index climbing to 51.5, up from February's 50.5. This growth, albeit slightly below the preliminary estimates, marks a positive shift in the UK's economic activity.

Services Sector Leads the Charge

Highlighting the sector's resilience, the Services PMI Business Activity Index also saw an uptick, moving from 51 in February to 52.5 in March. Despite this progress, the figures fell short of initial forecasts, indicating a cautious optimism among businesses.

Expert Insights on the Recovery

"The UK service sector experienced its fastest growth since August 2024, fueled by a resurgence in new orders. However, this recovery is not uniform across the board, with technology and financial services leading the way," noted Tom Moore, Economics Director at S&P Global Market Intelligence.