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Bloomberg
Growth in Britain’s services sector unexpectedly strengthened in April, giving the economy a solid start to the second quarter after a weaker-than-forecast performance at the start of the year. IHS Markit’s index rose to 55.8 in April from 55 in March, defying expectations for a decline to 54.5. Its measures for manufacturing and construction published earlier this week also improved, and the gauges suggest UK economic growth is running at a 0.6 percent pace.
Markit chief economist Chris Williamson said 0.4% should be possible for the quarter as a whole, which would compare with 0.3% in January-March period. The report also showed that new business grew at fastest pace this year and employment rose, albeit modestly. Respondents to survey who are optimistic about outlook continued to far outnumber pessimists, though the level of confidence eased.