Activity in Scotland's private sector increased at a sharply faster rate in March, helped by strong growth in the service sector, data from a survey by Markit Economics and Bank of Scotland showed Monday.
The seasonally adjusted purchasing managers index (PMI) for the private sector increased to 54.1 in March from 51.7 in February. A PMI reading above 50 indicates expansion in the sector, while one below suggests decline.
Production at private sector firms increased at the fastest pace in 12 months in March, driven by a sharp increase in service sector activity.
New business received by Scottish companies grew at a faster rate in March, helped mainly by greater marketing activity. Employment increased at the the fastest rate since July 2007.
Input price inflation remained broadly unchanged from February's 17-month low in March. Firms kept output prices broadly unchanged during March, contrasting with a rise in charges across the UK as a whole.
by RTT Staff Writer
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