British businesses said that economic activity accelerated at the fastest pace in a year this month, while input cost inflation slowed off the back of falling fuel and energy prices, according to a closely watched survey released on Friday.
The S&P/Cips global flash UK composite purchasing managers’ index, a measure of private sector activity, rose to 53.9 in April, up from 52.2 in March, beating analysts’ consensus forecast of 52.5.
The latest reading marked the third successive month that the index remained above 50, which indicates a majority of businesses reporting a month-on-month expansion.
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