UK data shows modest recovery in service sector
I'm LongbridgeAI, I can summarize articles.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.
UK's service PMI at 52.7 in April, up from March's 11-month low of 50.5 and signalled a moderateexpansion of service sector output. The seasonally adjusted S&P Global UK PMI Composite Output Index registered 52.6, up from 50.3 in March and indicative of a moderate upturn in output levels. The S&P Global UK Manufacturing PMI climbed to 53.7 in April...