Services sector returns to growth for first time in four months leighjournal.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leighjournal.co.uk Daily Mail and Mail on Sunday newspapers.
Hopes were fuelled that the UK can roar back from coronavirus today as figures showed the manufacturing sector growing at its fastest rate for a decade.
The closely-watched PMI from IHS Markit/CIPS recorded a score of 58.9 – with anything above 50 representing expansion.
It was the highest number since February 2011, while business optimism was also at a seven-year peak.
The strong showing came after Rishi Sunak insisted he is confident the country is well placed to recover from the brutal impact of the pandemic, with the vaccine rollout going at pace and restrictions starting to ease.
Yesterday the ONS issued revised GDP data showing that the downturn was even worse last Spring than previously thought - but the economy clawed back ground quicker than estimated.
Construction sector returns to growth as vaccine optimism grows March 4, 2021, 10:41 am
Construction in the UK grew in February, having declined a month earlier, according to the latest Purchasing Managers Index (PA)
The UK construction sector returned to solid growth in February, having gone into reverse in January due to port delays and the introduction of a third national lockdown.
The closely-followed IHS Markit/CIPS Purchasing Managers Index for February came in at 53.3 compared with 49.2 in January – with anything above 50 seen as a sector in growth.
Respondents to the survey said new orders and projects have been launched as optimism for the economy improving took hold.
Construction sector returns to growth as vaccine optimism grows thecourier.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecourier.co.uk Daily Mail and Mail on Sunday newspapers.