UK Composite PMI Growth in March

The United Kingdom's PMI Composite Output Index, a key indicator of economic health combining services and manufacturing sectors, rose to 51.5 in March from February's 50.5. This growth, however, was slightly below the preliminary estimates, as reported by S&P Global on Thursday.

Services Sector Leads the Way

Highlighting the strength in the services sector, the Services PMI Business Activity Index climbed from 51 in February to 52.5 in March. Despite this positive trend, the final figures did not meet the initial expectations, indicating a cautious optimism among economists.

Expert Insights

"March's data showcases the UK service sector's fastest growth since August 2024, driven by a resurgence in new orders. Yet, this recovery is not uniform across the board, with technology and financial services leading the charge," noted Tom Moore, Economics Director at S&P Global Market Intelligence.