In March, the UK private sector output growth rose to a six-month high, primarily fueled by services firms. Their increasing order books, influenced by rising domestic and overseas sales, helped push the S&P UK PMI composite output index up to 52.0. However, the manufacturing sector showcased a contrasting sentiment, as activity declined significantly due to rising tariffs and economic uncertainty, marking a downturn in production volumes and export sales. With Trump's anticipated tariffs likely postponed, manufacturers remain cautious about future growth amid these challenges.
The UK private sector output growth climbed to a six-month high in March, with services companies buoyed by the absence of expected trade tariffs.
Services companies reported an increase in order books for the first time this year, influenced by both domestic and overseas sales.
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