A flurry of new orders swept through British businesses in April as the country eased Covid restrictions, according to a survey released today which pointed towards a rapid economic rebound.
The preliminary ‘‘flash’’ reading of the
This signalled its highest reading since
Read more:
Economy ‘poised for recovery’
The survey added to signs that the
Non-essential retailers in
From 17 May, more restrictions will be lifted to allow indoor hospitality and sporting events.
According to the PMI survey, both services and manufacturing firms increased staffing this month in preparation.
“Companies are reporting a surge in demand for both goods and services as the economy opens up from lockdowns and the encouraging vaccine rollout adds to a brighter outlook,” said
“In more than 23 years of PMI history, we have only seen one spell of faster growth than this, recorded between August and November 2013.”
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Morning of ‘strong economic data’
The PMI for the
“By far the strongest momentum was seen among consumer services, driven by the reopening of some customer-facing parts of the economy in
Britain’s momentum came after data unexpectedly showed the euro zone economy also picked up pace in April, despite slower vaccination progress.
“The Eurozone PMIs were better than expectations and last month’s numbers, this was followed up by the
“The US PMIs are out later today and are likely to confirm that the global economy is rapidly expanding as we move out of lockdown.”
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© City AM, source