UK is quickly escaping the mild recession
Taking Stock on Thurday 25th January 2024
The PMI survey showed that the UK economy’s all-important services sector recorded another month of expansion, taking it to an eight-month high of 53.8.
Respondents in the service sector noted improved confidence among clients while some noted “a turnaround in demand due to lower borrowing costs”.
The manufacturing sector also saw an improvement taking it to a 9-month high of 47.3, although it remained in contraction.
Chris Williamson, chief business economist at S&P Global Market Intelligence said the survey marks “a promising start to the year” while Gabriella Dickens, senior UK economist at Pantheon Macroeconomics, said “the economy is quickly escaping the mild recession that it went into in the second half of last year”.
Companies mentioned on, "Taking Stock" today:
07:44 Tissue Regenix #TRX
11:18 Helium One Global #HE1
12:36 Novacyt #NCYT
16:30 Fevertree #FEVR
23:13 Dr Martens #DOCS
28:54 Team17 #TM17
31:25 Time Finance #TIME
33:13 Foxtons #FOXT
36:27 easyJet #EZJ
38:44 Wizz Air #WIZZ
40:19 IG Group #IGG
41:40 CMC Markets #CMCX
43:20 Narf Industries #NARF