S&P Global reports growth in UK business activity index in March

The PMI Composite index of business activity in the UK, which covers both services and manufacturing, amounted to 51.5 points in March. The index exceeded the February value of 50.5, but fell slightly short of the preliminary estimate. This was reported by S&P Global on Thursday.

The PMI index in the services sector also showed growth up to 52.5 points in March from 51.0 in February. However, this indicator was also below the preliminary estimate.

According to Tim Moore, economics director at S&P Global Market Intelligence, the March data reflects accelerating growth in the UK services sector to its highest level since August 2024. This was supported by a rebound in new orders, which bolstered an overall improvement in business activity.

However, the recovery in the private sector remains limited, as it is mainly driven by technology and financial services companies. At the same time, other sectors are showing more subdued dynamics, the expert added.