UK data shows modest recovery in service sector
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UK's service PMI rose to 52.7 in April from March's 50.5, indicating moderate expansion in the service sector. The S&P Global UK PMI Composite Output Index also increased to 52.6, suggesting a recovery in output levels. However, new business intakes remain subdued, with concerns over the Middle East conflict impacting confidence. Tim Moore from S&P Global noted that while there is a modest recovery, it may be short-lived due to ongoing challenges.
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