UK business activity growth hits seven-and-a-half year high in April

The performance of the UK service sector strengthened again during April, driven by sharp increases in business and consumer spending. Survey respondents widely attributed the improvement in demand to looser pandemic restrictions and high levels of optimism regarding the near-term economic outlook. Confidence in the sustainability of the recovery was also reflected in greater staff hiring, with employment growth accelerating to its fastest since October 2015. Adjusted for seasonal influences, the headline IHS Markit/ CIPS UK Services PMI® Business Activity Index registered 61.0 in April, up from 56.3 in March and … (full story)

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