2024-03-22 10:00:00 ET
Summary
- Further signs of the UK economy having pulled out of last year's brief recession are provided by the provisional PMI data for March.
- While the headline rate of inflation looks likely to cool in the months ahead, March's PMI warns of elevated underlying price pressures which will likely add to calls for restraint in any pivot to lower interest rates until there are firm signs of lower wage growth.
- March saw average supplier delivery times lengthen for a third successive month, with delays commonly linked to Red Sea-related shipping disruptions.
Further signs of the UK economy having pulled out of last year's brief recession are provided by the provisional PMI data for March. A further robust expansion of business activity ended the economy's best quarter since the second quarter of last year. The survey data are indicative of first quarter GDP rising 0.25% to thereby signal a reassuringly solid rebound from the technical recession seen in the second half of 2023....
Read the full article on Seeking Alpha
For further details see:
Flash PMI Shows Strong End To First Quarter For U.K. Economy, But Inflation Still Looks Sticky