March data pointed to another solid upturn in output levels across the UK private sector, with the rate of expansion only fractionally slower than February’s nine-month high. This largely reflected increasing business activity in the service economy. Manufacturing production nonetheless turned a corner in March, ending a twelve-month period of decline, amid the fastest rise in new orders since May 2022. Input prices continued to rise at a sharp pace in March, with the rate of inflation the second-fastest since August 2023. Service providers reported elevated wage pressures as the main factor leading to strong cost ... (full story)