Growth of services in the UK offers a break for Rachel Reeves on the eve of the spring statement
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The services have helped to increase the production of private sector in the UK to grow more than expected in March and the fastest pace in six months, which prompted a positive note for the Government ahead of the Spring Statement on Wednesday.
The preliminary reading of the British S&P composite index manager for the purchase, the health measure of the private sector, increased to 52 in March, compared to 50.5 in February and the highest in six months.
It was significantly above the level 50, which separates growth and contraction, with more than 50.3 forecasts by an economist who surveyed Reuters.
Chris Williamson, Chief Business Economist from S&P Global Market Intelligence, said: “Increasing business activities in March brings some good news for the Government ahead of the chancellor Spring statementoffering a break from a recent flow of predominantly reduced economic data. “
However, he noted that the improvement was triggered by “only small pockets growth“, Especially in financial services, with companies and manufacturers facing consumers continue to fight economic winds at home and abroad.
