UK private sector firms signalled a rise in business activity for the third consecutive month during April and the rate of expansion accelerated to its fastest for a year, according to S&P Global. A further robust rise in new order intakes added to signs of an improving economic landscape.
However, there were divergent trends by sector as strong growth in the service economy contrasted with another fall in manufacturing production.
Goods producers noted that customer destocking and efforts to cut costs had added to downward pressure on demand, whereas service providers typically commented on resilient consumer spending, S&P Global said in a release.
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