British services sector continues strong expansion throughout February, survey suggests


The UK service sector, one of the main drivers of the British economic growth, has continued to “expand strongly” throughout February, figures obtained from the Markit/CIPS Purchasing Managers (PMI) report suggest.

British services sector continues strong expansion throughout February, survey suggests image 1

According to a media news report on this topic, the Markit/CIPS Purchasing Managers’ Index (PMI) for the sector was 58.2 last month, which is a bit below the January figure, but still, way above the value of 50, which stands for expansion.

The Markit survey also found that confidence in the economic outlook rose to its highest since September 2009.

“There’s no end in sight to the good news: with business confidence in the services economy rising further in February, growth should pick up again in March, adding conviction to the growing consensus that the economy is set for its best year of growth since 2007, with the rate easily surpassing the 1.8% expansion seen last year,” said Chris Williamson, Markit’s chief economist.

The report also suggested that a large number of firms are likely to expand their activity over the next few months, investing in new equipment and bringing more personnel on board in order to meet increased demand.

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A complete smart card time and attendance system including European Working Time Regulations checking and reporting, ensuring that your company remains compliant with both regional and national legislation.

If you’d like to find out more about the extensive range of features provided by the Tensor WinTA.NET solution and just how it can save you much more time and money, just contact our dedicated team or Book a Demo, we’ll be more than happy to answer any questions and queries you might have.

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