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Economy Private sector records surge in growth
The Guardian
|March 25, 2025
UK private sector output growth climbed to a six-month high in March, powered by services companies that expect to avoid Donald Trump's second wave of trade tariffs next month.
In a boost to Rachel Reeves before the spring statement tomorrow, services companies said order books had increased for the first time this year after a sustained rise in domestic and overseas sales.
The S&P UK PMI composite output index, which tracks private sector activity, rose to 52.0, the highest since last September, and up from 50.5 in February.
Meanwhile, a survey found most consumers were not optimistic about the state of the economy and believed it was heading in the wrong direction. Of 3,000 people surveyed by KPMG, 58% felt Britain's economy was worsening in the three months to the end of February, an increase of 15 percentage points from the three months to the end of November.
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