UK PMI Manufacturing rose dropped from 58.0 to 55.5 in March, below expectation of 57.7, a 13-month low. PMI Services rose from 60.5 to 61.0, above expectation of 58.0, a 9-month high. PMI Composite dropped from 59.9 to 59.7.
Chris Williamson, Chief Business Economist at S&P Global said: “The survey indicators point to potentially sharply slower growth in the coming months, accompanied by a further acceleration of inflation and a worsening cost of living crisis, which paints an unwelcome picture of ‘stagflation’ for the economy in the months ahead.”
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