Posted 3/22/2024, 7:00:00 PM
UK Economy Continues to Expand in March Despite Slowdown Concerns
- UK's PMI remains above 50, indicating continued economic growth despite slight slowdown from February
- Manufacturing activity reaches highest level in nearly 2 years, while service sector sees modest slowdown
- Inflation concerns persist, with businesses reporting rising input prices and wages
- Service sector lost some momentum in March but still seeing expansion
- Private sector employment stagnated in March, as strong cost pressures contribute to cautious hiring
