UK PMI Services was finalized at 53.2 in February, down from January’s 53.9. PMI Composite dropped to 53.0, down from 53.3.
Chris Williamson, Chief Business Economist at IHS Markit: “The post-election rebound in service sector growth lost some of its bounce in February, in part due to coronavirus related disruptions to sectors such as travel and tourism, but continued to expand at an encouragingly robust pace. Alongside an improvement in manufacturing and a return to growth in the construction sector, the survey data are consistent with quarterly GDP growth of just over 0.2%, up from stagnation in the fourth quarter of last year.”
