UK Service Sector PMI Index for March Grows Despite Inflationary Pressures

According to S&P Global, UK service companies posted stronger-than-expected growth, Despite strong inflationary pressures.

According to the report, the purchasing managers’ index (PMI) for the U.K. services sector rose to 62.6 in March from 60.5 in February, above the previous estimate of 61.0.

The PMI remains above 50, indicating that the UK service sector continues to expand.

The expansion was a result of the lifting of restrictions on COVID-19, with people coming to spend more money on outdoor leisure and entertainment activities.

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