UK PMI Services was finalized at 60.5 in February, up from January’s 54.1. That’s the highest level since last June. PMI Composite was finalized at 59.9, up from February’s 54.2.
Andrew Harker, Economics Director at IHS Markit: “The ebbing of the Omicron wave of the COVID-19 pandemic contributed to a rebound in growth in the UK service sector in February, with rates of expansion in activity and new business up sharply… Although the latest set of PMI data were encouraging, the inflationary picture still has the potential to limit growth, while it remains to be seen what impact the Russian invasion of Ukraine will have on the service sector and wider economy.”
