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UK private sector returns to growth in March, led by fastest increase in service activity since August 2020
Business activity across the UK private sector increased in March and the rate of expansion was the fastest for seven months, according to the latest PMI® data compiled by IHS Markit and CIPS. This was fuelled by a rise in new orders for the first time since September 2020, which survey respondents attributed to a rebound in sales ahead of easing lockdown measures, alongside stronger consumer confidence and a surge in demand for residential property services. The headline seasonally adjusted IHS Markit / CIPS Flash UK Composite Output Index registered 56.6 in March, up sharply from 49.6 in February and above the ... (full story)