UK progresses toward recession exit amid slower services growth

Posted on April 5, 2024   |  

Despite a moderation in services activity during March, indications suggest Britain's economy is on course to exit recession.

The S&P Global Composite Purchasing Managers' Index for Britain saw a slight decrease to 52.8 in March, down from February's 53.0.

This figure continues to surpass the growth threshold of 50 for the fifth consecutive month.

While British businesses outperformed their counterparts in France and Germany, they trailed behind expansions witnessed in Italy and Spain.

Overall, Britain's economy displays resilience in the face of challenges within the services sector.