UK Companies Unexpectedly Show First Growth in Seven Months
- PMIs signal UK may dodge a recession early this year
- Signs of lingering inflation may push BOE into more rate hikes
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British companies reported the first growth in seven months, a surprise that boosts the chances the economy escapes a recession for now.
A survey of purchasing managers from S&P Global also showed a “sustained increase” in prices that adds to pressure on the Bank of England to raise interest rates again. Its composite reading of private sector output rose to 53 in February from 48.5 the month before, well above the 49 reading economists had expected.