UK service sector activity continues to increase in March; Markit/CIPS UK Services PMI registers 52.4, up from 51.8 in February and the best reading in seven survey periods

Cindy Allen

Cindy Allen

Apr 4, 2013 – Markit Economics Ltd.

LONDON , April 4, 2013 (press release) – Key Points:

  • New business volumes rise at strongest rate since last May
  • Fractional rise in employment also recorded
  • Business confidence at ten-month high
Summary:

Business activity in the UK service sector continued to increase during March. Growth was solid and the strongest since last August as incoming new work also rose at an accelerated rate. Payroll numbers increased, albeit at a fractional pace, while confidence in the outlook improved to the highest for ten months.

The headline seasonally adjusted Business Activity Index registered 52.4 in March. That was up from February’s 51.8 and the best reading for seven survey periods. Solid growth was achieved despite a number of reports that poor weather had weighed on activity.

Increased service sector output was supported by a marked rise in new business. Latest data showed growth was the steepest since May 2012, with companies commenting on an underlying strengthening of market demand. Clients were reported to be showing improved confidence and willingness to commit to new contacts. Growth in new business has now been recorded for three months in succession, and at increasingly strong rates.

Markit/CIPS UK Services PMI®

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025 795

+1 (310) 558 0008
+1 (310) 558 0080 (FAX)

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.