Economic update

The latest Markit/CIPS UK Services PMI Index stood at 55.8 in April, up from 55.0 in March, the ninth successive month that the Services PMI has been above the 50.0 threshold that separates growth from contraction.

The latest Markit/CIPS UK Manufacturing PMI stood at 57.3 in April, up from 54.2 in March. The Markit/CIPS UK Construction PMI in January posted a reading of 53.1 in April, up from March’s reading of 52.2.

According to the flash estimate, the Eurozone economy grew by 0.5% for Q1 2017, unchanged from Q4. In annual terms, the Eurozone economy grew by 1.7% in Q1, down slightly from the growth of 1.8% recorded in Q4 2016.


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