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Photo: Alberto Pesali / AB / DT
Restrictions relaxed in the UK encourage trade in April. Stock photo.
Minimal Economy
With the relatively high vaccination rate and removal of infection controls, company order books and outdoor cafes of restaurants are starting to fill up again in the UK.
Data for April show a rapid recovery in the UK economy. I.H.S. The Purchasing Managers’ Index (BMI) rose to 60.0 from 56.4 in March, according to market data. Economists expect the index to be 58.2 in April.
– Over 23 years of BMI history, the IHS reports that we have only seen faster growth than once in the period from August to November 2013. Says Christ Williamson, Markit’s chief economist.
In April, hotels and restaurants with non-essential businesses and outdoor activities were able to reopen. In May, with more relief available, businesses are preparing to reopen.
For the service sector, the BMI rose to 60.1 in April, the highest level since August 2014, from 56.3 in March. At the same time, the PMI for the manufacturing sector rose to 60.7 from 58.9 in the previous month.
A BMI above 50 is considered to indicate growth.
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