UK: PMI Services expands to 51.8 in February

UK PMI Services increased to 51.8 points in February, from 51.5 points in January, according to data released today by Markit. Market consensus pointed to a drop to 51.0.

Chris Williamson, Chief Economist at Markit comments: “Faster growth of the dominant services sector offset downturns in manufacturing and construction during February, meaning the economy is likely to have grown for a second successive month after the downturn late last year.”