UK services sector continues its recovery, PMI survey says
Firms reported the best export performance since 2014 and the strongest expansion in new business in a year.
March's figure was boosted by the strongest expansion in new business in a year, and the best export performance since at least 2014 when the data series began.
The service sector accounts for almost 80% of UK economic output.
Tim Moore, economics director at S&P Global Market Intelligence, said: "March data confirmed that the UK service sector returned to growth during the first quarter of 2023, supported by a sustained rebound in new orders as business and consumer confidence improved from the lows seen last autumn."
The PMI survey showed an improvement in business expectations for the fifth consecutive month and optimism about business prospects being the highest since March last year.
But there were still some clouds on the horizon, with some companies worried about rises in interest rates and corporation tax.
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