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FTSE 100 above 7,000 following strong manufacturing purchasing managers index reading

FTSE 100 above 7,000 following strong manufacturing purchasing managers index reading
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Services sector returns to growth for first time in four months

The UK’s services sector rebounded back into growth during March at the fastest rate in seven months, following four months of contraction, according to new data. The closely followed IHS Markit/CIPS Purchasing Managers’ Index (PMI) recorded a score of 56.3 last month, compared with 49.5 in February. Anything above 50 is seen as a sector in growth. Activity, new orders and employment were all up during March, with optimism hitting highs not seen since December 2006, as businesses prepare for large swathes of the sector reopening as part of the Covid-19 road map. Forward bookings ahead of lockdown easing later this month helped contribute to an increase in total new work for the sector for the first time in six months.

UK service sector rebounds strongly in March ahead of lockdown easing - World News

2021-04-07 13:36:08 GMT2021-04-07 21:36:08(Beijing Time) Xinhua English LONDON, April 7 (Xinhua) Britain s service providers reported a strong rebound in business conditions during March, with activity, new orders and employment all picking up since the previous month, according to a joint report released here Wednesday. The purchasing managers index (PMI) for the service sector rose to 56.3 in March, up sharply from 49.5 in February, signalling the fastest rate of output expansion for seven months, said the report following a joint survey by IHS Markit, a London-based global information provider, and the Chartered Institute of Procurement & Supply (CIPS), which serves the procurement and supply profession.

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