S&P Global said its index of activity among private sector services and manufacturing firms came in at a ‘solid’ 52.8 in March
Britain’s economy has already emerged from recession following a down- turn at the end of last year, figures suggested yesterday.
S&P Global said its index of activity among private sector services and manufacturing firms came in at a ‘solid’ 52.8 in March.
Although that was down slightly from the 53 it recorded in February it was the fifth month in a row above the 50 mark that separates growth from decline.
Analysts said the report indicated that the recession is over after the economy contracted in the third and fourth quarters of last year.
Thomas Pugh at consultants RSM said he expects the economy to have grown by 0.2 per cent in the first quarter of this year.
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