Services sector drag offsets manufacturing slump in UK private sector
April 23, 2024
UK private sector activity expanded for the sixth consecutive month in April, as a strong rebound in services sector output helped offset a slight decline in manufacturing output. Output growth was supported by a solid rise in the volume of new orders and a modest acceleration in hiring, all driven by the services economy. April data showed a steep rise in the average cost burden in the private sector, with the inflation rate rising sharply from March to its highest level since May 2023.
