The UK private sector registered another increase in activity in March, reflecting robust performance by the service economy, flash survey results from S&P Global showed on Friday.
The flash Chartered Institute of Procurement & Supply composite output index posted 52.2 in March, down from February's eight-month high of 53.1 and economists' forecast of 52.7. Nonetheless, the reading was above the 50.0 no-change mark.
"The surveys are broadly consistent with GDP growing at only a modest quarterly rate of 0.2%, but this represents a welcome expansion compared to the lack of growth seen in the second half of last year," S&P Global Market Intelligence Chief Business Economist Chris Williamson said.
by Renju Jaya
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