U.K Composite Output Index rose to a 7-month high of 56.6 in March, up sharply from 49.6 in February, according to IHS Markit press release. The index signaled a strong rate of private sector output growth and the speed of recovery was the fastest since August 2020.
Flash Services Business Activity Index rose to a 7-month high of 56.8, up from February’s 49.5 reading
Flash Manufacturing Output Index rose to a 3-month high of 55.6, up from February’s 50.5 reading
Flash Manufacturing PMI rose to a 40-month high of 57.9, up from February’s 55.1 reading
The rise in business activity was fueled by an expansion in new orders for the first time since September 2020
Strong consumer confidence, surge in demand for residential property services, and anticipated easing of lockdown measures fueled rise in new orders.
For the first time since the start of the pandemic, service sector activity outpaced manufacturing production growth.
Output charge inflation accelerated to its highest for over three years.
Expectations for the year ahead picked up for the third month running and were the strongest since July 2012.
U.K stocks and the pound are currently declining. FTSE 100 is down 0.28%, GBPUSD is down 0.33%
