- The UK PMI surveys indicated a sustained robust pace of expansion in March as the further reopening of the economy from COVID-19 containment measures helped offset headwinds from the Ukraine war, Brexit and rising prices.
- Price pressures have spiked higher due to increased energy and commodity prices resulting from the invasion.
- The past two months of buoyant growth contrast with a sluggish start to the year in January, when tightened COVID-19 related health precautions stymied growth, notably in the service sector.
For further details see:
U.K. Economic Growth Strong; Ukraine War Drives Price Rise, Dents Business Confidence