UK service sector sees strongest growth in 12 months

Growth in the UK’s services sector accelerated sharply in April, according to the latest survey data on Thursday, helping to drive growth in the private sector overall amid a slump in manufacturing.

The S&P Global/CIPS services purchasing managers’ index rose to 55.9 points in April from 52.9 in March. Rising further above the 50-point mark that separates expansion from contraction, it shows activity in the sector increased sharply.

It was the fastest rise in activity for 12 months, and higher than the flash estimate of 54.9.

Accrol Group Holdings plc (LON:ACRL) is the UK’s leading independent tissue converter, producing toilet tissue, kitchen towel, facial tissue and biodegradable wet wipes. The UK soft tissue market is worth £1.6bn with private label products comprising circa 50%. Accrol is the leading supplier to the private label market, which is growing at over 8% year on year.

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