UK Composite PMI Shows Positive Growth in March

The United Kingdom's PMI Composite Output Index, a combined measure of services and manufacturing sectors, rose to 51.5 in March from February's 50.5. This growth indicates a slight acceleration in economic activity, although it was marginally lower than the preliminary estimates.

Services Sector Leads the Way

The Services PMI Business Activity Index also saw an increase, moving from 51 in February to 52.5 in March. Despite this positive trend, the final figures were slightly below the initial projections.

"March data revealed an acceleration in UK service sector growth to its fastest since August 2024," noted Tom Moore, Economics Director at S&P Global Market Intelligence. "A renewed upturn in new orders has boosted overall business activity, though the recovery remains concentrated in sectors like technology and financial services."