British economy expected to show recovery as services sector output hits four-month peak

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>The UK economy is expected to have picked up from a sharp slump at the beginning of the year after output in Britain&&num;8217&semi;s powerhouse services sector surged to a four-month high in April&period;<&sol;p>&NewLine;<p>The closely-watched Markit&sol;CIPS purchasing managers&&num;8217&semi; index &lpar;PMI&rpar; reached 55&period;8 last month up from 55&period;0 in March and above economists&&num;8217&semi; forecasts of 54&period;4&period; A reading above 50 indicates growth&period; The jump in services activity was underpinned by the fastest growth in new work this year&comma; driven by robust business-to-business demand&comma; new product launches and rising sales abroad&period;<&sol;p>&NewLine;<p>The result delivers a hat-trick of good news for the UK economy after separate PMI figures earlier this week showed manufacturing output reached a three-year high in April and the construction sector rebounded to record its fastest growth this year&period;<&sol;p>&NewLine;<p>Chris Williamson&comma; chief business economist at IHS Markit&comma; said the three surveys point to UK gross domestic product &lpar;GDP&rpar; growing at 0&period;6&percnt; at the beginning of the second quarter after GDP slumped to 0&period;3&percnt; in the first quarter of this year&period;<&sol;p>&NewLine;<p>&&num;8220&semi;While we expect consumer spending to slacken in coming months&comma; with the April survey highlighting continued weakness in sectors such as hotels&comma; restaurants and other household-facing businesses&comma; there&&num;8217&semi;s good reason to believe that at least 0&period;4&percnt; GDP growth can be achieved in the second quarter as a whole&period;<&sol;p>&NewLine;<p>He added&colon; &&num;8220&semi;The strengthening of growth and the upturn in prices will bolster calls for higher interest rates&period; &&num;8220&semi;But weak growth in the consumer sector remains a concern&comma; and is something which could intensify in coming months as consumer prices rise further&period;&&num;8221&semi;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68e3087f20519">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; window&period;tudeMappings &vert;&vert; &lbrack;&rsqb;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings&period;push&lpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;divId&colon; 'atatags-dynamic-belowpost-68e3087f20519'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;format&colon; 'belowpost'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; document&period;readyState &equals;&equals;&equals; 'loading' &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;document&period;addEventListener&lpar; 'DOMContentLoaded'&comma; window&period;getAdSnippetCallback &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; else &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback&lpar;&rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<&sol;script>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>


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