Final PMI data for the UK services sector for April. Currently: 55.0; expected: 54.9; previous: 53.1.
Composite reading of 54.1 versus 54.0 expected and previous reading of 54.0.
Key comments on the data:
- Activity and new work are rising at the fastest pace in 11 months.
- Hiring remains subdued.
- Manufacturing cost inflation highest since August 2023.
UK service providers reported a solid recovery in business activity in April, supported by a renewed strengthening of order books. However, the recovery took place in a margin-maximizing environment for companies, as evidenced by weak employment and cost inflation data.
Source: S&P Global
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