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A significant rise in the indicator for the British economy

A significant rise in the indicator for the British economy

International Economy

The level of activity in the British economy is witnessing a noticeable increase – from low levels – according to the Standard & Poor's Global Purchasing Managers' Index. Archive photo. Photo: Sang Tan AP/TT

Economy (TT-Bloomberg)

It indicates the upward trend of the British economy. Activity is increasing more than expected in both the services sector and manufacturing, a preliminary PMI from S&P Global shows.

The composite index rose to 53.0 in February, up from 48.5 in January. Analysts on average were expecting a rise to 49.0.

An index number above 50 indicates growth.

As is the case in the eurozone, it is driven by the services sector. The UK services sector PMI rose in February to 53.3, from 48.7 in January and the average forecast of 49.2.

For British manufacturing, the index rose in February to 49.2, compared to 47.0 in January and the average forecast of 47.5.

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