UK services PMI fell to 53.4 from 53.8 in the same period, a three-month low; British manufacturing PMI rose to 49.9 in March from 47.5 in February
The UK's Composite Purchasing Managers' Index (PMI), which covers the manufacturing and services sectors, fell from 53 to 52.9 between February and March, according to preliminary data released this Thursday.(21) By S&P Global in association with CIPS.
The result disappointed the expectations of analysts polled by FactSet, who had forecast a slight increase in the composite PMI to 53.1 this month.
The UK services PMI fell to 53.4 from 53.8 in the same period, touching a three-month low and contradicting the LEG consensus of analysts, which had forecast stability at 53.8.
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British manufacturing PMI rose to 49.9 in March from 47.5 in February, hitting a 20-month high and well above consensus, at 47.8.
Readings above 50 indicate expansion of activity and numbers below that indicate signal contraction.
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