Key findings:
- Modest upturns in business activity and new work
- Employment growth slips to three-month low
- Strong rate of input cost inflation continues in March
IHS Markit / CIPS UK Services PMI March data signalled a slowdown in business activity growth across the UK service sector, with the latest expansion the weakest for over one-anda-half years. However, survey respondents noted that snow disruption and unusually bad weather conditions in March had been a key factor holding back business activity growth.
Meanwhile, input cost inflation remained strong, with the latest rise in operating expenses the fastest since December 2017, which contributed to another marked rise in average prices charged by service sector firms.
Source – Markit Economics
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Craig Erlam
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