- Prior 60.5
- Manufacturing PMI 55.5 vs 56.7 expected
- Prior 58.0
- Composite PMI 59.7 vs 57.8 expected
- Prior 59.9
A bit of a contrast in performances as services activity jumps to a 9-month high while manufacturing slumped to a 13-month low. In any case, the UK depends more on the services sector so the overall speed of the recovery has only been fractionally dampened. But business optimism slumped to its lowest since October 2020 as the Russia-Ukraine war and escalating inflation pressures weighed on sentiment. Of note, inflation pressures in March rose by the second-fastest on record (only exceed by that in November last year).
The full report can be found here.
