LONDON (Reuters) – UK private sector activity unexpectedly rebounded in February on the back of buoyant services, according to “flash” results from the S&P Global/CIPS monthly survey of chief executives. ‘purchases.

The S&P Global/CIPS “flash” PMI composite index climbed to 53.0 in February from 48.5 in January, above the 50 threshold that separates a contraction from an increase in activity for the first time. since July.

Economists polled by Reuters were still anticipating a contraction in activity with an index at 49.0.

The services sector PMI came out at 53.3 this month against 48.7 in January, its highest level since June.

That of the manufacturing sector also improved to 49.2 from 47.0 the previous month.

The PMI price index – a good indicator of future inflationary pressures – continued to decline, which could give the Bank of England more leeway in the conduct of its monetary policy.

This PMI survey suggests that the UK economy may be in a slightly worse state than expected, although similar surveys in the past have not proven conclusive.

“Much better than expected PMI data for February indicates encouraging resilience in the economy,” said Chris Williamson, economist at S&P Global.

“While many companies continue to report difficult operating conditions, particularly in manufacturing, the overall mood has been supported by signs of plateauing inflation, improving supply chains and improving economic conditions. ‘recession risk mitigation’.

(Report Andy Bruce, Blandine Hénault for the , edited by Kate Entringer)

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